Blue Spruce Corp.sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information...
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Blue Spruce Corp.sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Blue Spruce Corp's purchases of EZslide snowboards during September. During the same month, 108 EZslide snowboards were sold. Blue Spruce Corp. uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory $116 $ 1,276 Sept. 12 Purchases 48 119 5,712 Sept. 19 Purchases 120 7,200 Sept. 26 Purchases 21 121 2.541 Totals 140 $16,729 11 60 (2) 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 decimal places, eg. 125.) AVERAGE-COST The ending inventory at September 30 FIFO LIFO $ $ (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 decimal places, eg. 125.) FIFO LIFO AVERAGE-COST Cost of goods sold $ $ $ e Textbook and Media
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