Delmott sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Below is information relating to Delmott?s purchases of Xpert snowboards during September. During the same month, 102 Xpert snowboards were sold. Delmott uses a periodic inventory system.
Date Explanation Units Unit Cost Total Cost
Sept. 1 Inventory 15 $104 $1.560
Sept. 12 Purchases 44 108 4,752
Sept. 19 Purchases 51 111 5,661
Sept. 26 Purchases 21 112 2,352
Totals 131 $14,325
(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.)
(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 0 decimal places, e. g. 125.)
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Delmott sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Below is information r...
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