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Sandhill Co. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Sandhill Co.’s purchases of EZslide snowboards during September. During the same

Sandhill Co. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Sandhill Co.’s purchases of EZslide snowboards during September. During the same month, 107 EZslide snowboards were sold. Sandhill Co. uses a periodic inventory system.

Date

 

Explanation

 

Units

 

Unit Cost

 

Total Cost

Sept. 1   Inventory  

11

 

$105

 

$ 1,155

Sept. 12   Purchases  

44

 

108

 

4,752

Sept. 19   Purchases  

54

 

109

 

5,886

Sept. 26   Purchases  

20

 

110

 

2,200

    Totals  

129

     

$13,993



(a1) 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.)

   

FIFO

 

LIFO

 

AVERAGE-COST

The ending inventory at September 30   $   $   $



(a2) 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.)

   

FIFO

 

LIFO

 

AVERAGE-COST

Cost of goods sold   $   $   $

Apr 02 2021 View more View Less

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