This continues our accounting for Pure Water, Inc. As stated in the continuing problem in Chapter 4, Pure Water, Inc., began selling pools and spas in August. For this problem, we will focus on the purchase and sales of spas during the month of September. The purchases and sales of spa inventory for the month of September are as follows:

Requirements
1. Assuming that Pure Water, Inc., uses the FIFO inventory cost flow assumption, what is the September 30 ending spa inventory balance and September cost of goods sold for spas?
2. Assuming that Pure Water, Inc., uses the LIFO inventory cost flow assumption, what is the September 30 ending spa inventory balance and September cost of goods sold for spas?
3. Assuming that Pure Water, Inc., uses the average cost inventory cost flow assumption, what is the September 30 ending spa inventory balance and September cost of goods sold forspas?

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Spa Inventory Unit Cost Total Cost 9,000 August 31 balance September 5 purchase September 11 sale September 17 purchase September 21 sale September 25 purchase September 29 sale 3 units $3,000 each 5 units $2,900 each 4 units 6 units $2,800 each 5 units 5 units @ $2,700 each 4 units $14,500 $16,800 $13,500