Lisa's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Lisa's...
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Lisa's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Lisa's purchases of Xpert snowboards during September is shown below. During the same month, 123 Xpert snowboards were sold. Lisa's uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Sept. 12 Sept. 19 Inventory 27 $97 $2,619 Purchases 45 102 4,590 Purchases 20 104 2,080 Sept. 26 Purchases 50 105 5,250 Totals | 142 $14,539 (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 $ eTextbook and Media Lisa's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Lisa's purchases of Xpert snowboards during September is shown below. During the same month, 123 Xpert snowboards were sold. Lisa's uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Sept. 12 Sept. 19 Inventory 27 $97 $2,619 Purchases 45 102 4,590 Purchases 20 104 2,080 Sept. 26 Purchases 50 105 5,250 Totals | 142 $14,539 (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 $ eTextbook and Media
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