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Delmott sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Below is information relating to Delmottâ??s purchases of Xpert snowboards during September. During the same month, 101 Xpert snowboards were sold. Delmott uses a periodic inventory system.
Date
Explanation
Units
Unit Cost
Total Cost
13
$105
$ 1,365
43
107
4,601
51
110
5,610
20
113
2,260
127
$13,836
a.) Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to 0 decimal places, e.g. 125.)
b.) Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to 0 decimal places, e.g. 125.)
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