Question: Mather sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Mather's purchases of EZslide snowboards during September. During the same month, 102 EZslide snowboards were sold. Mather uses a periodic inventory system.
Instructions: Compute the ending inventory at September 30 and the cost of goods sold using the FIFO, LIFO, and average-cost methods. (For average-cost, round the average unit cost to three decimal places.) Prove the amount allocated to cost of goods sold under each method.