Sheridan sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating...
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Sheridan sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Sheridan's beginning inventory and purchases of EZslide snowboards during September. During the same month, 103 EZslide snowboards were sold. Sheridan uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 11 $98 $ 1,078 Sept. 12 Purchases 45 101 4,545 Sept. 19 Purchases 49 102 4,998 Sept. 26 Purchases 18 103 1,854 Totals 123 $12,475 Compute the ending inventory at September 30 and the cost of goods sold using the FIFO, LIFO, and average-cost methods. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to 0 decimal places, e.g. 5,125.) FIFO LIFO Average-cost The ending inventory at September 30 2$ $ 2$ Cost of goods sold $ $ $ Sheridan sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Sheridan's beginning inventory and purchases of EZslide snowboards during September. During the same month, 103 EZslide snowboards were sold. Sheridan uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 11 $98 $ 1,078 Sept. 12 Purchases 45 101 4,545 Sept. 19 Purchases 49 102 4,998 Sept. 26 Purchases 18 103 1,854 Totals 123 $12,475 Compute the ending inventory at September 30 and the cost of goods sold using the FIFO, LIFO, and average-cost methods. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to 0 decimal places, e.g. 5,125.) FIFO LIFO Average-cost The ending inventory at September 30 2$ $ 2$ Cost of goods sold $ $ $
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Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118096895
6th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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