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Compute the ending inventory at september and cost of good

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

Date          Explanation             Units            Unit Cost         Total Cost

Sept. 1     Inventory               26                 $97                $2,522
Sept. 12   Purchases               45                102                  4,590
Sept. 19    Purchases                20            104                   2,080
Sept. 26     Purchases               50              105                 5,250

Totals                                    141                                  $14,442

Problem 1: Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods.

Reference no: EM132751397

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