THESE ARE PRACTICE PLEASE DON"T SKIP OR PARTIALLY COMPLETE. I AM TRYING TO LEARN.

Sheridans Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Sheridans purchases of Xpert snowboards during September is shown below. During the same month, 206 Xpert snowboards were sold. Sheridans uses a periodic inventory system.

Date		Explanation		Units		Unit Cost		Total Cost
Sept. 1		Inventory		44		$99		$ 4,356
Sept. 12		Purchases		77		105		8,085
Sept. 19		Purchases		34		106		3,604
Sept. 26		Purchases		85		111		9,435
		Totals		240				$25,480

2.

3.

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 $ $ 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 $ $ Larkspur, Inc. reports the following for the month of June. Unit Cost Units Total Cost June 1 496 $5 $ 2,480 7,936 12 992 8 Inventory Purchase Purchase Inventory 23 744 10 7,440 30 248 * Your answer is incorrect. Try again. Compute the cost of the ending inventory and the cost of goods sold under FIFO and LIFO. FIFO LIFO Cost of the ending inventory $ $ X X Cost of goods sold LINK TO TEXT Exercise 6-10 Novak's Hardware reported cost of goods sold as follows. 2019 2020 $ 21,000 155,000 Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold 176,000 34,500 $ 34,500 177,000 211,500 36,000 $175,500 $141,500 Novak's made two errors: (1) 2019 ending inventory was overstated $3,450, and (2) 2020 ending inventory was understated $6,350. Compute the correct cost of goods sold for each year. 2019 2020 Cost of goods sold $ $