Wildhorse Co. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Wildhorse Co.'s purchases of EZslide snowboards during September. During the same month, 104 EZslide snowboards were sold. Wildhorse Co. uses a periodic inventory system.
| Date |
Explanation |
Units |
Unit Cost |
Total Cost |
| Sept. 1 |
Inventory |
12 |
$107 |
$1,284 |
| Sept. 12 |
Purchases |
45 |
110 |
4,950 |
| Sept. 19 |
Purchases |
52 |
111 |
5,772 |
| Sept. 26 |
Purchases |
19 |
112 |
2,128 |
| Totals |
128 |
$14,134 |
(a) Compute the ending inventory at September 30 using the FIFO, LIFO
(b) Compute the cost of goods sold at September 30 using the FIFO, LIFO