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Splish Brothers sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Splish Brothers's purchases of EZslide snowboards during
Splish Brothers sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Splish Brothers's purchases of EZslide snowboards during September. During the same month, 105 EZslide snowboards were sold. Splish Brothers uses a periodic inventory system. Date Explanation Sept. 1 Inventory Units 15 Unit Cost Total Cost $116 $1,740 12 Purchase 45 118 5,310 19 Purchase 50 120 6,000 26 Purchase Total 20 121 2,420 130 $15,470 Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods FIFO Ending inventory at September $ 30 LIFO $ Compute the cost of goods sold at September 30 using the FIFO, LIFO and average cost methods. FIFO Cost of goods sold $ LIFO $ AVERAGE-COST AVERAGE-COST
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