Question: Question 4 of 6 > 7.5/15 E Lisa's Boards sells a snowboard, Xpert that is popular with snowboard enthusiasts. Information relating to Lisa's purchases of

 Question 4 of 6 > 7.5/15 E Lisa's Boards sells asnowboard, Xpert that is popular with snowboard enthusiasts. Information relating to Lisa'spurchases of Xpert snowboards during September is shown below. During the samemonth, 120 Xpert snowboards were sold. Date Explanation Units Unit Cost TotalCost Sept. 1 Inventory 25 $64 $1,600 Sept. 12 Purchases 45 70
3,150 Sept. 19 Purchases 15 22 1.080 Sept. 26 Purchases 50 73
3650 Totals 135 59480 Additional data regarding Lisa's sales of Xpert snowboards
are provided below. Assume that Lisa's uses a perpetual inventory system, Date
Units Unit Price Total Revenue Sept. 5 Sale 10 S184 $1.840 Sept.
16 Sale 50 184 9.200 QuesLu4 01b 7.5/15 E Additional data regarding

Question 4 of 6 > 7.5/15 E Lisa's Boards sells a snowboard, Xpert that is popular with snowboard enthusiasts. Information relating to Lisa'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 $64 $1,600 Sept. 12 Purchases 45 70 3,150 Sept. 19 Purchases 15 22 1.080 Sept. 26 Purchases 50 73 3650 Totals 135 59480 Additional data regarding Lisa's sales of Xpert snowboards are provided below. Assume that Lisa's uses a perpetual inventory system, Date Units Unit Price Total Revenue Sept. 5 Sale 10 S184 $1.840 Sept. 16 Sale 50 184 9.200 QuesLu4 01b 7.5/15 E Additional data regarding Lisa's sales of Xpert snowboards are provided below. Assume that Lisa's uses a perpetual inventory system. Date Units Unit Price Total Revenue Sept. 5 Sale 10 $184 $1,840 Sept. 16 Sale 50 184 9.200 Sept. 29 Sale 60 212 12.720 Totals 120 $23.760 (a 1) ? Your answer is correct Your answer is correct. Calculate moving average cost at Sept 1,5, 12, 16, 19,26 & 29. (Round answers to 2 decimal places, eg. 1.25) September 1 $ 64 September 5 s 64 September 12 $ $ 68.5 September 16 $ 8.5 September 19 $ 706 September 26 $ 22 September 29 S (a2) Your answer is correct. Compute ending inventory at September 30 using FIFO. LIFO, and moving average cost. (Round average-cost per unit to 2 decimal places, as 12.50 and final answer to O decimal places, eg. 1250) FIFO LIFO MOVING-AVERAGE COST The ending inventory $ 1095 $ 1000 5 1080 N eTextbook and Media Attempts: 1 of 3 used (b) 1/15 (b) Your answer is incorrect. Compare ending inventory using a perpetual inventory system to ending inventory using a periodic inventory system, Periodic Perpetual Ending Inventory FIFO $ $ Ending inventory LIFO $ $ eTextbook and Media Save for Later Attempts: 1 of 3 used Submit An

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!