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Splish Brothers Inc. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Splish Brothers Inc's purchases of EZslide snowboards
Splish Brothers Inc. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Splish Brothers Inc's purchases of EZslide snowboards during September. During the same month, 109 EZslide snowboards were sold. Splish Brothers Inc. uses a periodic inventory system. Date Units 11 50 Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Inventory Purchases Purchases Purchases Totals Unit Cost $119 122 123 124 Total Cost $ 1,309 6.100 7,134 2.852 $17,395 58 23 142 (a) Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, eg. 125.153 and final answers to O decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory at September 30 $ $ (b) Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to decimal places, eg. 125.) FIFO LIFO AVERAGE-COST Cost of goods sold $ $
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