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In its first month of operations, Larkspur, Inc. made three purchases of merchandise in the following sequence: (1) 235 units at $10, (2) 470 units at $11, and (3) 435 units at $12. Assuming there are 170 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Larkspur uses a periodic inventory system. FIFO (a) Cost of the ending inventory 8135 LIFO (b) Cost of the ending inventory $ 3065 Marigold sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Marigold's purchases of EZslide snowboards during September. During the same month, 102 EZslide snowboards were sold. Marigold uses a periodic inventory system. Units 13 Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Inventory Purchases Purchases Purchases Totals Unit Cost $87 90 91 43 Total Cost $ 1,131 3,870 4,368 1,932 $11,301 48 21 92 125 Compute the ending inventory at September 30 and the cost of goods sold using the FIFO, LIFO, and average-cost methods. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to O decimal places, e.g. 5,125.) FIFO LIFO Average-cost $ 2116 $ $ The ending inventory at September 30 Cost of goods sold $ $ $ $ $ $ 9222

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