Question: Sold boards during Nov is shown below.... During the same month, this company sold 248 boards. Uses a periodic inventory system. date explanation units unit

Sold boards during Nov is shown below.... During the same month, this company sold 248 boards. Uses a periodic inventory system.

date explanation units unit cost total cost
nov 1 inventory 53 $100 $5300
nov 12 purchase 92 104 9568
nov 19 purchase 41 108 4428

nov 26

purchase 103 113 11635
totals 289 $30935

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 nov 30

$ ?

$ ?

Cost of goods sold

$ ?

$ ?

B). ----- For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold.

FIFO

LIFO

The sum of ending inventory and cost of goods sold

$ ?

$ ?

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