Question: Can someone please assist me with finding the Ending Inventory values on Sept. 30 for the Tabs marked: FIFO, LIFO, and Average Cost? Teal Mountain
Can someone please assist me with finding the Ending Inventory values on Sept. 30 for the Tabs marked: FIFO, LIFO, and Average Cost?
Teal Mountain sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Teal Mountain's purchases of EZslide snowboards during September. During the same month, 105 EZslide snowboards were sold. Teal Mountain uses a periodic inventory system. Units Date Sept. 1 12 Explanation Inventory Purchase Purchase Purchase 15 45 Unit Cost $120 122 124 Total Cost $1,800 5,490 6.200 2,500 $15.990 19 50 26 20 125 Total 130 Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. FIFO LIFO AVERAGE-COST Ending inventory at September 30 $ $ Compute the cost of goods sold at September 30 using the FIFO, LIFO and average cost methods. FIFO LIFO AVERAGE-COST Cost of goods sold $ 12870 $ 12970 $ 12915
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