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Compute the ending inventory at september 30

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Exercise

Betty's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Betty's purchases of Xpert snowboards during September is shown below. During the same month, 121 Xpert snowboards were sold. Betty's uses a periodic inventory system.

Date

Explanation

Units

Unit Cost

Total Cost

Sept. 1

Inventory

26

$96

$ 2,496

Sept. 12

Purchases

45

104

4,680

Sept. 19

Purchases

20

106

2,120

Sept. 26

Purchases

50

107

5,350

 

Totals

141

 

$14,646

Compute the ending inventory at September 30 and cost of goods sold using the FIFO and UFO methods.

FIFO LIFO

The ending inventory at September 30

Cost of goods sold

Reference no: EM132368046

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