Please do not give solution in image format thanku Wildhorse Co. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Wildhorse Co'spurchases of Ezslide snowboards during September. During the same month, 107 Ezslide snowboards were sold. Wildhorse Co. uses aperiodic inventory system.DateSept. 1Sept. 12Sept. 19Sept. 26Explanation UnitsInventoryPurchasesPurchasesPurchasesTotalsThe ending inventory atSeptember 301549Cost of goods sold5125140Unit Cost$110FIFO113114115.Total Cost(a) Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3decimal places, e.g. 125,153 and final answers to 0 decimal places, e.g. 125.)FIFO$1,6505,5375,8142,875$15,876LIFO(b) Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3decimal places, e.g. 125.153 and final answers to 0 decimal places, eg. 125.)LIFO$AVERAGE-COSTAVERAGE-COST

LIFO means last in first out where as FIFO means first in first out.inventory and cost of goods sold…

Wildhorse Co. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Wildhorse Cos purchases of EZslide snowboards during September. During the same month, 107 EZslide snowboards were sold. Wildhorse Co. uses periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Inventory Purchases Purchases Purchases Totals The ending inventory at September 30 Units Cost of goods sold 15 - 49 51 25 140 Unit Cost $110 FIFO 113 114 115 Total Cost $1,650 5,537 (a) Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to O decimal places, eg. 125.) FIFO 5,814 2,875 $15,876 (b) Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to O decimal places, e.g. 125.) LIFO LIFO AVERAGE-COST AVERAGE-COST

Wildhorse Co. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Wildhorse Cos purchases of EZslide snowboards during September. During the same month, 107 EZslide snowboards were sold. Wildhorse Co. uses periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Inventory Purchases Purchases Purchases Totals The ending inventory at September 30 Units Cost of goods sold 15 - 49 51 25 140 Unit Cost $110 FIFO 113 114 115 Total Cost $1,650 5,537 (a) Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to O decimal places, eg. 125.) FIFO 5,814 2,875 $15,876 (b) Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to O decimal places, e.g. 125.) LIFO LIFO AVERAGE-COST AVERAGE-COST

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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