Snoslope sells a snowboard xpert that is popular with

Reference no: EM13588066

Snoslope sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Below is information relating to Snoslope's purchases of Xpert snowboards during September. During the same month, 118 Xpert snowboards were sold. Snoslope uses a periodic inventory system.

Date Explanation Units Unit Cost Total Cost
Sept. 1 Inventory 78 $100 $7,800

Sept. 12 Purchases 135 $103 $13,905
Sept. 19 Purchases 60 $106 $6,360

Sept. 26 Purchases 150 $111 $16,650
Total 423 $44,715

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

FIFO Ending Inventory$
LIFO Ending Inventory$

(b) For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold.

FIFO COGS $
LIFO COGS $

FIFO COGS + Ending Inventory$
LIFO COGS + Ending Inventory$

Reference no: EM13588066

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