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Sweet Acacia Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Sweet Acacia Corp.'s purchases of EZslide snowboards
Sweet Acacia Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Sweet Acacia Corp.'s purchases of EZslide snowboards during September. During the same month, 102 EZslide snowboards were sold. Sweet Acacia Corp. uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 11 $106 $ 1,166 Sept. 12 Purchases 44 109 4,796 Sept. 19 Purchases 110 5,390 Sept. 26 Purchases 21 111 2,331 Totals 125 $13,683 49 (a1) Compute the ending inventory 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 o decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory at September 30 $ $ $ (a2) 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 o decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST Cost of goods sold $ $ $
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