Teal Mountain Inc. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is...
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Teal Mountain Inc. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Teal Mountain Inc's purchases of EZslide snowboards during September. During the same month, 102 EZslide snowboards were sold. Teal Mountain Inc. uses a periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Inventory Purchases Purchases Purchases Totals Units 13 49 53 20 Unit Cost $107 110 111 112 Total Cost $ 1,391 5,390 5,883 2.240 $14,904 135 (a) Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, eg. 125.153 and final answers to decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory at September 30 $ $ $ TA (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, eg. 125.153 and final answers to decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST Cost of goods sold $ $ $ $ e Textbook and Media
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