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Wildhorse Co. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Wildhorse Co.s purchases of EZslide snowboards during September.
Wildhorse Co. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Wildhorse Co.s purchases of EZslide snowboards during September. During the same month,104EZslide snowboards were sold. Wildhorse Co. uses a periodic inventory system.
Date | Explanation | Units | Unit Cost | Total Cost |
Sept. 1 | Inventory | 12 | $107 | $1,284 |
Sept. 12 | Purchases | 45 | 110 | 4,950 |
Sept. 19 | Purchases | 52 | 111 | 5,772 |
Sept. 26 | Purchases | 19 | 112 | 2,128 |
Totals | 128 | $14,134 |
(a) Compute the ending inventory at September 30 using the FIFO, LIFO
(b)Compute the cost of goods sold at September 30 using the FIFO, LIFO
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