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Compute the ending inventory at september

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Question - Elsa's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Elsa's purchases of Xpert snowboards during September is shown below. During the same month, 191 Xpert snowboards were sold. Elsa's uses a periodic inventory system.

Date

Explanation

Units

Unit Cost

Total Cost

Sept. 1

Inventory

41

$99

$4,059

Sept. 12

Purchases

71

104

7,384

Sept. 19

Purchases

32

106

3,392

Sept. 26

Purchases

79

105

8,295

 

Totals

223

 

$23,130

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

Reference no: EM131569342

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