Waaaave Inc. sells an surfboard that is popular with enthusiasts. The following information shows Waaaave's purchases and sales of surfboards during November: Date Nov. 1 5 12 19 22 25 Explanation Beginning inventory Purchases Sales Purchases Sales Purchases Units 30 25 (42) 40 - (50) 303 Unit Cost/Price $295 300 460 305 470 10 Determine the cost of goods sold and ending inventory using (1) FIFO and (2) average cost.

Waaave Inc. sells an surfboard that is popular with enthusiasts. The following information shows Waaaave's purchases and sales of surfboards during November: Determine the cost of goods sold and ending inventory using (1) FIFO and (2) average cost