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Sheffield sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Sheffield's beginning inventory and purchases of EZslide snowboards
Sheffield sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Sheffield's beginning inventory and purchases of EZslide snowboards during September. During the same month, 97 EZslide snowboards were sold. Sheffield uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 12 $92 $ 1,104 Sept. 12 Purchases 43 95 4,085 Sept. 19 Purchases 50 96 4,800 Sept. 26 Purchases 19 97 1,843 Totals 124 $11,832 Compute the ending inventory at September 30 and the cost of goods sold using the FIFO, LIFO, and average-cost methods. (Round per unit cost to 3 decimal places, eg, 15.647 and final answers to decimal places, e.g. 5,125.) Compute the ending inventory at September 30 and the cost of goods sold using the FIFO, LIFO, and average-cost methods. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to O decimal places, e.g. 5,125.) FIFO LIFO Average-cost The ending inventory at September 30 $ $ $ Cost of goods sold $ $ $
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