Swifty Company took a physical inventory on December 31 and determined that goods costing $150,000 were on hand. Not included in the physical count were $21,000 of goods purchased from Pelzer Corporation, FOB shipping point, and $19,500 of goods sold to Alvarez Company for $27,500, FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Swifty report as its December 31 inventory? Swifty ending Inventory $ In its first month of operations, Sheffield Company made three purchases of merchandise in the following sequence: (1) 300 units at $7, (2) 450 units at $8, and (3) 250 units at $9. (a) Calculate the average unit cost. (Round answer to 2 decimal places, e.g. 15.25.) Average unit cost $ (b) eTextbook and Media Save for Later Attempts: 0 of 5 used Submit Answer Compute the cost of the ending inventory under the average-cost method, assuming there are 400 units on hand. (Round answer to O decimal places, e.g. 1,250.) The cost of the ending inventory Laura's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Laura's purchases of Xpert snowboards during September is shown below. During the same month, 120 Xpert snowboards were sold. Laura's uses a periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 (a) Explanation Inventory Purchases (b) Purchases Purchases Totals Cost of goods sold Units 30 eTextbook and Media 45 Save for Later 20 50 The ending inventory at September 30 145 Unit Cost $97 103 105 106 Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods. $ Total Cost $ 2,910 4,635 $ 2,100 5,300 $14.945 FIFO $ $ For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold. LIFO Attempts: 0 of 5 used Submit Answer