Splish Brothers sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Splish Brothers's purchases of EZslide snowboards during September. During the same month, 107 EZslide snowboards were sold. Splish Brothers uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 13 $98 $ 1,274 Sept. 12 Purchases 44 101 4,444 Sept. 19 Purchases 52 102 5,304 Sept. 26 Purchases 20 103 2,060 Totals 129 $13,082
Splish Brothers sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Splish Brothers's purchases of EZslide snowboards during September. During the same month, 107 EZslide snowboards were sold. Splish Brothers uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 13 $98 $ 1,274 Sept. 12 Purchases 44 101 4,444 Sept. 19 Purchases 52 102 5,304 Sept. 26 Purchases 20 103 2,060 Totals 129 $13,082
Chapter1: Financial Statements And Business Decisions
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Splish Brothers sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to
Splish Brothers's purchases of EZslide snowboards during September. During the same month, 107 EZslide snowboards were sold.
Splish Brothers uses a periodic inventory system.
Date
Explanation
Units
Unit Cost
Total Cost
Sept. 1
Inventory
13
$98
$ 1,274
Šept. 12
Purchases
44
101
4,444
Sept. 19
Purchases
52
102
5,304
Sept. 26
Purchases
20
103
2.060
Totals
129
$13,082
Compute the ending inventory at September 30 and the cost of goods sold using the FIFÓ, LIFÓ, and average-cost methods. (Round
per unit cost to 3 decimal places, e.g. 15.647 and final answers to 0 decimal places, e.g. 5,125.)
FIFO
LIFO
Average-cost
The ending inventory at
September 30
2$
2060
2$
2266
$
1274
Cost of goods sold
2060
2$
2266
2$
1274
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