Blossom Company sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Blossom Company's purchases of EZslide snowboards during September. During the same month, 104 EZslide snowboards were sold.Blossom Company uses a periodic inventory system.DateExplanationUnitsUnit CostTotal CostSept. 1Sept. 12Sept. 1913$104$ 1,352InventoryPurchases461074,922Purchases501085,400Sept. 26Purchases201092,180Totals129$13,854(a) Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to 0 decimal places, e.g. 125.)FIFOLIFOAVERAGE-COSTThe ending inventory at Sep302$$42$(b) Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to 0 decimal places, e.g. 125.)FIFOLIFOAVERAGE-COSTCost of goods sold2$$1$4

Following are the inventory information:

Answered: Blossom Company sells a snowboard,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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