Instructions (a) Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods. Prove the amount allocated to cost of goods sold under each method. (b) For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold. What do you notice about the answers you found for each method? FIFO LIFO The ending inventory at September 30 $ $ Cost of goods sold $ $ Ruth's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Ruth's purchases of Xpert snowboards during September is shown below. During the same month, 120 Xpert snowboards were sold. Ruth's uses a periodic inventory system. Date Units Explanation Inventory Unit Cost $96 Total Cost $2,592 Sept. 1 27 Sept. 12 Purchases 45 101 4,545 Sept. 19 Purchases 20 103 2,060 Sept. 26 Purchases 50 104 5.200 Totals 142 $14.397