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Zhu Boards sells a snowboard E6.4 (LO 2) Zhu Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. The following information relates to

Zhu Boards sells a snowboard
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E6.4 (LO 2) Zhu Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. The following information relates to Zhu's purchases of Xpert snowboards during September. During the same month, 121 Xpert snowboards were sold. Zhu's uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Sept. 12 Sept. 19 Sept. 26 HKS 970 1,020 Inventory 23 HK$ 22,310 Purchases 45 45,900 Purchases 20 1,040 20,800 Purchases 44 1,050 46,200 Totals 132 HK$135,210 Instructions a. Compute the ending inventory at September 30 and cost of goods sold using the FIFO and average cost methods. Prove the amount allocated to cost of goods sold under each method. b. For both FIFO and average-cost, calculate the sum of ending inventory and cost of goods sold. What do you notice about the answers you found for each method

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