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Waterway Corp sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to waterway corps purchases pf EZslide snowboards in September.
Waterway Corp sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to waterway corps purchases pf EZslide snowboards in September. During the same month, 108 EZslide snowboards were sold. Waterway Corp uses a periodic inventory system.
date | explanation | units | unit cost | total cost |
9/1 | inventory | 10 | $110 | $1,100 |
9/12 | purchases | 53 | 113 | 5989 |
9/19 | purchases | 54 | 114 | 6156 |
9/26 | purchases | 23 | 115 | 2645 |
totals | 140 | 15890 |
1. Compute the ending inventory at September 30 using the FIFO, LIFO and average cost methods
2. Compute the cost of goods sold at September 30 using the FIFO, LIFO and average cost methods
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