Sunland sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating...
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Sunland sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Sunland's purchases of EZslide snowboards during September. During the same month, 105 EZslide snowboards were sold. Sunland uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 11 $112 $1.232 Sept. 12 Purchases 44 115 5,060 Sept. 19 Purchases 52 116 6,032 Sept. 26 Purchases 18 117 2,106 Totals 125 $14.430 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, eg. 15.647 and final answers to 0 decimal places, eg. 5,125) Sunland sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Sunland's purchases of EZslide snowboards during September. During the same month, 105 EZslide snowboards were sold. Sunland uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 11 $112 $1.232 Sept. 12 Purchases 44 115 5,060 Sept. 19 Purchases 52 116 6,032 Sept. 26 Purchases 18 117 2,106 Totals 125 $14.430 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, eg. 15.647 and final answers to 0 decimal places, eg. 5,125)
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Periodic FIFO Purchases Totals Periodic LIFO Beginning inventory Sep12 Sep19 Sep26 of Units of Units ... View the full answer
Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118096895
6th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Posted Date:
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