Wildhorse Co. sells a snowboard, WhiteOut, that is popular with snowboard enthusiasts. Presented below is information relating to Wildhorse.Co.'s purchases of WhiteOut snowboards during September. During the same month, 99 WhiteOut snowboards were sold at $170 each. Wildhorse Co. uses a periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Units Unit Cost Inventory $100 106 110 112 Purchases Purchases Purchases Totals 21 37 20 41 119 Total Cost $2,100 3,922 2,200 4,592 $12,814

Wildhorse Co. sells a snowboard, WhiteOut, that is popular with snowboard enthusiasts. Presented below is information relating to Wildhorse.Co.'s purchases of WhiteOut snowboards during September. During the same month, 99 WhiteOut snowboards were sold at $170 each. Wildhorse Co. uses a periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Units Unit Cost Inventory $100 106 110 112 Purchases Purchases Purchases Totals 21 37 20 41 119 Total Cost $2,100 3,922 2,200 4,592 $12,814

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

ChapterC: Inventory Methods

Section: Chapter Questions

Problem 1P: Bean Nursery sells bark to its customers at retail. Bean buys bark from a plywood mill in bulk and...

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Bean Nursery sells bark to its customers at retail. Bean buys bark from a plywood mill in bulk and transports the bark in its own trucks. Information relating to the beginning inventory and purchases of bark is as follows: Required Find the cost of 1,200 cubic yards in the ending inventory by the weighted-average-cost method. Carry average cost per cubic yard to four decimals. Check Figure Cost of ending inventory, 519.24
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Kingbird, Inc. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Kingbird, Inc.’s purchases of EZslide snowboards during September. During the same month, 92 EZslide snowboards were sold. Kingbird, Inc. uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 12 $108 $ 1,296 Sept. 12 Purchases 45 111 4,995 Sept. 19 Purchases 51 112 5,712 Sept. 26 Purchases 19 113 2,147 Totals 127 $14,150 (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 0 decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory at September 30 $Enter a dollar amount $Enter a dollar amount $Enter a dollar amount (b) Compute the…
Ivanhoe Company sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Ivanhoe Company’s purchases of EZslide snowboards during September. During the same month, 95 EZslide snowboards were sold. Ivanhoe Company uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 12 $106 $ 1,272 Sept. 12 Purchases 45 109 4,905 Sept. 19 Purchases 55 110 6,050 Sept. 26 Purchases 21 111 2,331 Totals 133 $14,558 (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 0 decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory at September 30 $Enter a dollar amount $Enter a dollar amount $Enter a dollar amount (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.…
Oriole sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Oriole's purchases of EZslide snowboards during September. During the same month, 102 EZslide snowboards were sold. Oriole uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 12 $114 $ 1,368 Sept. 12 Purchases 43 117 5,031 Sept. 19 Purchases 49 118 5,782 Sept. 26 Purchases 18 119 2,142 Totals 122 $14,323 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 $4 %24 $. %$4 11924 Cost of goods sold %24 %24 %24 %24
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Blossom Company sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Blossom Company’s purchases of EZslide snowboards during September. During the same month, 104 EZslide snowboards were sold. Blossom Company uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 13 $104 $ 1,352 Sept. 12 Purchases 46 107 4,922 Sept. 19 Purchases 50 108 5,400 Sept. 26 Purchases 20 109 2,180 Totals 129 $13,854 (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 0 decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory at September 30 $enter a dollar amount rounded to 0 decimal places $enter a dollar amount rounded to 0 decimal places…
Tamarisk sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Tamarisk's beginning inventory and purchases of EZslide snowboards during September. During the same month, 101 EZslide snowboards were sold. Tamarisk uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 11 $ 109 $ 1,199 Sept. 12 Purchases 46 112 5,152 Sept. 19 Purchases 52 113 5,876 Sept. 26 Purchases 19 114 2,166 Totals 128 $ 14,393 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$ 8,042 $ 6,351 2$ Cost of goods sold 2$ 2$ $
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