Question: E 6 . 5 ( LO 2 ) , AP REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September.
ELO AP REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the same month, snowboards were sold. REI uses a periodic inventory system.
tableDateExplanation,Units,Unit Cost,Total CostSeptInventory,$$ SeptPurchases,SeptPurchases,SeptPurchases,Totals,$
Instructions
a Compute the ending inventory at September using FIFO, LIFO, and averagecost
b Compute the cost of goods sold for the month using the FIFO, LIFO, and averagecost methods. For averagecost round the average unit cost to three decimal places.
Compute irventory and cost of goods sold using periodic FIFO, LIFO, and averagecost
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