Elsa's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Elsa's purchases of Xpert snowboards during September is shown below. During the same month, 167 Xpert snowboards were sold. Elsa's uses a periodic inventory system.
Date Explanation Units Unit Cost Total Cost
Sept. 1 Inventory 36 $98 $ 3,528
Sept. 12 Purchases 62 103 6,386
Sept. 19 Purchases 28 106 2,968
Sept. 26 Purchases 69 105 7,245
Totals 195 $20,1
I need help figuring out the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods.
FIFO LIFO
I need help figuring out the inventory at September 30 _______________________
I need help figuring out the Cost of goods sold ____________________________________
I need help figuring out what is the FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold.
FIFO LIFO
I need help figuring out what is ending inventory and cost of goods sold ___________________