Compute the ending inventory at September

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Problem - Carla Vista Co. sells a snowboard. EZslide, that is popular with snowboard enthusiasts. Below is information relating to Carla Vista Co.'s purchases of EZslide snowboards during September. During the same month, 106 EZslide snowboards were sold. Carla Vista Co. uses a periodic inventory system.

Date

Explanation

Units

Unit Cost

Total Cost

Sept. 1

Inventory

15

$100

$1,500

Sept. 12

Purchases

42

103

4,326

Sept. 19

Purchases

57

104

5,928

Sept. 26

Purchases

21

105

2,205

Totals

 

135

 

$13,959

Required -

(a) Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods.

(b) Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods.

Reference no: EM132945713

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