Splish Brothers's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating...
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Splish Brothers's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Splish Brothers's purchases of Xpert snowboards during September is shown below. During the same month, 121 Xpert snowboards were sold. Splish Brothers's uses a periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Units 26 45 Explanation Inventory Purchases Purchases Purchases Totals Unit Cost $102 103 108 114 Total Cost $ 2,652 4,635 2,160 5,700 $15.147 20 50 141 Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO The ending inventory at September 30 $ 2280 Cost of goods sold $ $
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