REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During...
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REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the same month, 104 snowboards were sold. REI uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 13 $115 $1,495 Sept. 12 Purchases 48 118 5,664 Sept. 19 Purchases 56 119 6,664 Sept. 26 Purchases 23 120 2,760 Totals 140 $16,583 (a) Your answer is incorrect. Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round average cost per unit to 3 decimal places e.g. 125.153 and final answers to O decimal places, e.g. 125.) Ending inventory at September 30 $ FIFO LIFO AVERAGE-COST REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the same month, 104 snowboards were sold. REI uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 13 $115 $1,495 Sept. 12 Purchases 48 118 5,664 Sept. 19 Purchases 56 119 6,664 Sept. 26 Purchases 23 120 2,760 Totals 140 $16,583 (a) Your answer is incorrect. Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round average cost per unit to 3 decimal places e.g. 125.153 and final answers to O decimal places, e.g. 125.) Ending inventory at September 30 $ FIFO LIFO AVERAGE-COST
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