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Larkspur sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is
information relating to Larkspur’s beginning inventory and purchases of EZslide snowboards
during September. During the same month, 102 EZslide snowboards were sold. Larkspur uses a
periodic inventory system. Date
Explanation
Units
Unit Cost
Total Cost
Sept. 1
Inventory
13
$104
$ 1,352
Sept. 12
Purchases
44
107
4,708
Sept. 19
Purchases
49
108
5,292
Sept. 26
Purchases
22
109
2,398
Totals
128
$13,750
Compute the ending inventory at September 30 and the cost of goods sold using the FIFO, LIFO,
and average-cost methods. (Round per unit cost to 3 decimal places, e.g. 15.647 and ±nal answers to 0
decimal places, e.g. 5,125.)
FIFO
LIFO
Average
The
ending
inventory
at
September
30
$ $ $ 2,830
2,743
