Delmott sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Below is information relating to Delmottâ??s purchases of Xpert snowboards during September. During the same month, 101 Xpert snowboards were sold. Delmott uses a periodic inventory system.
|
Date
|
|
Explanation
|
|
Units
|
|
Unit Cost
|
|
Total Cost
|
| Sept. 1 |
|
Inventory |
|
13
|
|
$105
|
|
$ 1,365
|
| Sept. 12 |
|
Purchases |
|
43
|
|
107
|
|
4,601
|
| Sept. 19 |
|
Purchases |
|
51
|
|
110
|
|
5,610
|
| Sept. 26 |
|
Purchases |
|
20
|
|
113
|
|
2,260
|
|
|
Totals |
|
127
|
|
|
|
$13,836
|
a.) Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to 0 decimal places, e.g. 125.)
b.) Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to 0 decimal places, e.g. 125.)