Question

Question 6 Sweet Acacia Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts, Below is information relating to Snowboards during September. During the same month, 102 EZ slide snowboards were sold. Sweet Acacia Corp. uses a periodic inventory system. Date Units Total Cost Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Inventory Purchases Purchases Purchases Unit Cost $106 109 110 111 $ 1,166 4,796 5,390 2,331 $13,683 Totals (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, e.g. 125.153 and final answers to 0 decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory at September 30 (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, e.g. 125.153 and final answers to o decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST Cost of goods sold Click If you would like to Show Work for this question: Open Show Work

Answer 1

	Ending inventory =		125 - 102
			23
				FIFO	LIFO	Average - cost
the ending inventory at September 30				2551	2474	2518
				FIFO	LIFO	Average - cost
cost of goods sold				11132	11209	11165