## Class Question

### Exercise 6-4

Martinez Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Martinez Corp.’s purchases of EZslide snowboards during September. During the same month, 98 EZslide snowboards were sold. Martinez Corp. uses a periodic inventory system.

Date Explanation Units Unit Cost Total Cost 13 \$101 \$ 1,313 46 104 4,784 51 105 5,355 21 106 2,226 131 \$13,678

(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.)

 FIFO LIFO AVERAGE-COST \$Enter a dollar amount \$Enter a dollar amount \$Enter a dollar amount

(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.)

 FIFO LIFO AVERAGE-COST \$Enter a dollar amount \$Enter a dollar amount \$Enter a dollar amount
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