Question

Question 3 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, 244 Xpert snowboards were sold. Elsa's uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 53 $99 5,247 Sept. 12 purchases 91 103 9,373 Sept. 19 purchases 4,320 40 108 Sept. 26 purchases 101 105 10,605 $29,545 Totals 285 Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods 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

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