Question: Assignments-2021 Start Page - 6 Home Work Inventory and Multiple Step Income Statement Start Page Question 1 of 5 - /20 III Patricia's Boards sells
Assignments-2021 Start Page - 6 Home Work Inventory and Multiple Step Income Statement Start Page Question 1 of 5 - /20 III Patricia's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Patricia's purchases of Xpert snowboards during September is shown below. During the same month, 125 Xpert snowboards were sold. Patricia's uses a periodic inventory system Explanation Units Total Cost Unit Cost $96 Inventory 30 $ 2.880 Date Sept 1 Sept. 12 Sept. 19 Sept. 26 Purchases 45 100 4,500 Purchases 20 102 2,040 Purchases 50 103 5,150 Totals 145 $ 14,570 (a) Compute the ending Inventory at September 30 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO The ending inventory at September 30 $ $ Cost of goods sold
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