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Swifty sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Swifty's beginning inventory and purchases of EZslide
Swifty sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Swifty's beginning inventory and purchases of EZslide snowboards during September. During the same month, 102 EZslide snowboards were sold. Swifty uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 13 $88 $1,144 Sept. 12 Purchases 45 91 4,095 Sept. 19 Purchases 52 92 4,784 Sept. 26 Purchases 18 93 1,674 Totals 128 $11,697 Average-cost 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 The ending inventory at September 30 $ Cost of goods sold $ $ +A LIFO +A
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