Question: (a2) Compute ending inventory at September 30 using FIFO, LIFO, and moving average cost. (Round average-cost per unit to 2 decimal places, e.g. 12.50 and

 (a2) Compute ending inventory at September 30 using FIFO, LIFO, andmoving average cost. (Round average-cost per unit to 2 decimal places, e.g.

(a2) Compute ending inventory at September 30 using FIFO, LIFO, and moving average cost. (Round average-cost per unit to 2 decimal places, e.g. 12.50 and final answer to O decimal places, e.g. 1,250.) FIFO LIFO MOVING-AVERAGE COST The ending inventory $ $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer Current Attempt in Progress Elizabeth's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Elizabeth's purchases of Xpert snowboards during September is shown below. During the same month, 120 Xpert snowboards were sold. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 25 $80 $2,000 Sept. 12 Purchases 45 86 3,870 Sept. 19 Purchases 15 94 1,410 Sept. 26 Purchases 50 98 4,900 Totals 135 $12,180 Additional data regarding Elizabeth's sales of Xpert snowboards are provided below. Assume that Elizabeth's uses a perpetual inventory system. Date Units Unit Price Total Revenue Sept. 5 Sale 10 $182 $1,820 Sept. 16 Sale 50 182 9,100 Sept. 29 Sale 60 207 12,420 Totals 120 $23,340

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!