(a2)Dorothy's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Dorothy's purchasesof Xpert snowboards during September is shown below. During the same month, 120 Xpert snowboards were sold.DateExplanationUnits Unit CostTotal CostSept. 1Inventory25$66$1,650Sept. 12Purchases45703,150Sept. 19Purchases1572Sept. 26Purchases507721,080753,750Totals135$9.630Additional data regarding Dorothy's sales of Xpert snowboards are provided below. Assume that Dorothy's uses a perpetual inventorysystem.DateUnitsUnit PriceTotal RevenueSept. 5Sale10$190$1,900Sept. 16Sale501909,500Sept. 29Sale6020612,360Totals120$23,760X Your answer is incorrect.Compute ending inventory at September 30 using FIFO, LIFO, and moving-average cost. (Round average-cost per unit to 2 decimalplaces, eg. 12.50 and final answer to O decimal places, e.g. 1,250.)The ending inventoryFIFO4725LIFO5225MOVING AVERAGE COST4941.90

Let's examine each inventory valuation method's computations in more depth. First-In, First-Out, or…

Answered: (a2) Dorothy's Boards sells a…

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 18E: Lakeesha Barnett owns and operates a package mailing store in a college town. Her store, Send It...

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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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Mather sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Mather’s purchases of EZslide snowboards during September. During the same month, 102 EZslide snowboards were sold. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 12 $100 $1,200 Sept. 12 Purchases 45 103 4,635 Sept. 19 Purchases 50 104 5,200 Sept. 26 Purchases 20 105 2,100 Totals 127 $13,135 Additional data regarding the company’s sales of EZslide snowboards are provided below. Assume that Mather uses a perpetual inventory system. Date Units Sept. 5 Sale 8 Sept. 16 Sale 48 Sept. 29 Sale 46 Totals 102 Calculate the average unit cost. (Round answers to 3 decimal places, e.g. 5.125.) September 1 $ 100 September 5 $ ? September 12 $ ?…
I need to know the gross profit using FIFO and LIFO for this problemI need to know the gross profit using FIFO and LIFO for this problem
i need the answer quickly
REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the same month, 106 snowboards were sold. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Date Explanation Units Unit Cost Inventory $110 Sept. 5 Sept. 16 Sept. 29 Purchases Purchases Purchases. Totals Sale Sale Sale Totals Units 8 47 51 13 106 45 55 Additional data regarding the company's sales of snowboards are provided below. Assume that REI uses a perpetual inventory system. 22 135 113 114 115 Total Cost $1,430 5,085 6,270 2,530 $15,315
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REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the same month, 109 snowboards were sold. REI uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 14 $102 $1,428 Sept. 12 Purchases 48 105 5,040 Sept. 19 Purchases 50 106 5,300 Sept. 26 Purchases 23 107 2,461 Totals 135 $14,229 (a) Your answer is correct. Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to O decimal places, e.g. 125.) (b) Ending inventory at September 30 $ eTextbook and Media FIFO 2779 $ LIFO 2688 $ AVERAGE-COST 2740 Attempts: 2 of 3 used Compute the cost of goods sold for the month 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.) Cost of goods sold $ FIFO $ LIFO AVERAGE-COST $
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Current Attempt in Progress REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the same month, 103 snowboards were sold. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Date Sept. 5 Sept. 16 Sept. 29 Explanation Units Inventory Purchases (a1) Purchases Purchases Totals Sale Sale Sale Totals September 11 $ September 5 Units $ 9 49 45 14 Additional data regarding the company's sales of snowboards are provided below. Assume that REI uses a perpetual inventory system. 103 45 49 25 133 Unit Cost * $102 105 106 107 Total Cost $1,428 4,725 5,194 2,675 Calculate the weighted-average unit cost. (Round answers to 3 decimal places, e.g. 5.125.) $14,022
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The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations: Jan. 20 Purchased 400 units @ $ 8 = $ 3,200 Apr. 21 Purchased 200 units @ $ 10 = 2,000 July 25 Purchased 280 units @ $ 13 = 3,640 Sept. 19 Purchased 90 units @ $ 15 = 1,350 During the year, The Shirt Shop sold 810 T-shirts for $20 each. Required a. Compute the amount of ending inventory The Shirt Shop would report on the balance sheet, assuming the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average. (Round cost per unit to 2 decimal places and final answers to the nearest whole dollar amount.)

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