REI sells snowboards. Assume the following information relates to REI's purchases of snowboards durinSeptember. During the same month, 116 snowboards were sold.DateSept. 1Sept. 12Sept. 19Sept. 26DateExplanation Units Unit CostInventory$106PurchasesPurchasesPurchasesSept. 5Sept. 16Sept. 29TotalsSaleSaleSaleTotalsUnits8545415116495823Additional data regarding the company's sales of snowboards are provided below. Assume that REI uses aperpetual inventory system.145109110111Total Cost$1,5905,3416,3802,553$15,864 Calculate the weighted-average unit cost. (Round answers to 3 decimal places, e.g. 5.125.)September 1September 5September 12September 19$$$SASeptember 16 $Theendinginventory19September 26 $+ASeptember 29 $eTextbook and MediaCompute ending inventory at September 30 using FIFO, LIFO, and moving-average. (Round answers to Odecimal places, e.g. 125.)FIFOLIFOAVERAGE-COST

Mainly ending inventory can be valued in three method namely FIFO, Weighted average cost and LIFO…

Calculate the weighted-average unit cost. (Round answers to 3 decimal places, e.g. 5.125.) September 1 September 5 $ September 12 $ September 16 September 19 $ September 26 $ $ September 29 $ The ending inventory e Textbook and Media Compute ending inventory at September 30 using FIFO, LIFO, and moving-average. (Round answers to O decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST

Calculate the weighted-average unit cost. (Round answers to 3 decimal places, e.g. 5.125.) September 1 September 5 $ September 12 $ September 16 September 19 $ September 26 $ $ September 29 $ The ending inventory e Textbook and Media Compute ending inventory at September 30 using FIFO, LIFO, and moving-average. (Round answers to O decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 6EB: Blue Barns purchased 888 gallons of paint at $19 per gallon from a supplier on June 3. Terms of the...

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nivig nisbienos pi ul bne Ansl sllinmU bre Ans tory and cost of g periodic FIFO, age-cost. E6-4 Mather sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Mather's purchases of EZslide snowboards during Sep- tember. During the same month, 102 EZslide snowboards were sold. Mather uses a periodic inventory system. 80gqfno AoolsH of 000 222 ofT SI 00 eboog blos IrioT borpoqxo ton s ahoog odT 85 19dmos mal limu doblisH doe Date diExplanation Sept. 1 Units Unit Cost Total Cost bope Inventory Purchases lite Purchases 12 $ 1,200 to Iauo4,635 o noi104b 80 5,200 boggida aboo 2,100 $100 45 bv 103 50 20 000 105 L indi Sept. 12 bro s Sept. 19 gide Purchases Sept. 26 Totals 127 $13,135 Instructions Compute the ending inventory at September 30 and the cost of goods sold using the FIFO, LIFO, and average-cost methods. (For average-cost, round the average unit cost to three decimal places.) Prove the amount allocated to cost of goods sold under each…
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