Question

*Exercise 6-5 (Part Level Submission) Blue Spruce's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Blue Spruce's purchases of Xpert snowboards during September is shown below. During the same month, 248 Xpert snowboards were sold. Blue Spruce's uses a periodic inventory system. Units Unit Cost Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Inventory Purchases Purchases Purchases Total Cost $5,194 9,660 41 103 289 Totals *(a) Your answer is correct Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods FIFO 455 LIFO VOTE The ending inventory at September 30 Cost of goods sold $26203 $26738 Attempts tos *(b) Your answer is partially correct. Try again. For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold FIFO LIFO die bose j120 The sum of ending inventory and cost of goods sold 390756 731289

please answer for the part B , for sum of ending inventory and cost of goods sold under the LIFO method. the box which is red

Answer 1

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Blue Spruce Boards
Answer 1	Periodic FIFO
Date	Cost of Goods available for sale			Cost of Goods sold			Inventory Balance
	No. of Units	Cost per unit	Amount	No. of Units	Cost per unit	Cost of Goods sold	No. of Units	Cost per unit	Inventory Balance
1-Sep	53.00	98.00	5,194.00	53.00	98.00	5,194.00	-	98.00	-
12-Sep	92.00	105.00	9,660.00	92.00	105.00	9,660.00	-	105.00	-
19-Sep	41.00	109.00	4,469.00	41.00	109.00	4,469.00	-	109.00	-
26-Sep	103.00	111.00	11,433.00	62.00	111.00	6,882.00	41.00	111.00	4,551.00
Total	289.00		30,756.00	248.00		26,205.00	41.00		4,551.00
Sum of ending inventory and cost of goods sold is nothing but "Cost of Goods available for sale" which is $ 30,756.
	Periodic LIFO
Date	Cost of Goods available for sale			Cost of Goods sold			Inventory Balance
	No. of Units	Cost per unit	Amount	No. of Units	Cost per unit	Cost of Goods sold	No. of Units	Cost per unit	Inventory Balance
1-Sep	53.00	98.00	5,194.00	12.00	98.00	1,176.00	41.00	98.00	4,018.00
12-Sep	92.00	105.00	9,660.00	92.00	105.00	9,660.00	-	105.00	-
19-Sep	41.00	109.00	4,469.00	41.00	109.00	4,469.00	-	109.00	-
26-Sep	103.00	111.00	11,433.00	103.00	111.00	11,433.00	-	111.00	-
Total	289.00		30,756.00	248.00		26,738.00	41.00		4,018.00
Sum of ending inventory and cost of goods sold is nothing but "Cost of Goods available for sale" which is $ 30,756.