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, 109 snowboards were sold. REI uses a periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 (a) Explanation Inventory Purchases Purchases Purchases Totals Units Ending inventory at September 30 12 50 57 21 140 Unit Cost $105 108 109 110 Total Cost $1,260 5,400 6,213 FIFO 2,310 Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round average cost per unit to 3 decimal places, eg. 125.153 and final answers to O decimal places, e.g. 125.) $15,183 LIFO AVERAGE-COST REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the same month, 109 snowboards were sold. REI uses a periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 (a) Explanation Inventory Purchases Purchases Purchases Totals Units Ending inventory at September 30 12 50 57 21 140 Unit Cost $105 108 109 110 Total Cost $1,260 5,400 6,213 FIFO 2,310 Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round average cost per unit to 3 decimal places, eg. 125.153 and final answers to O decimal places, e.g. 125.) $15,183 LIFO AVERAGE-COST

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Answer There are three methods for the valuation of ... View the full answer