ANSWER B REI sells snowboards, Assume the following information relates to REI's purchases of snowboards during September. During the same month, 107 snowboards were sold. REI uses a periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 (a) Explanation Units Unit Cost Inventory $110 Purchases (b) Purchases Purchases Totals Your answer is correct. Ending inventory at September 30 15 eTextbook and Media 49 51 25 140 $ 113 114 FIFO 115 Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round average cost per unit to 3 decimal places, eg. 125.153 and final answers to 0 decimal places, eg. 125) Total Cost $1,650 5,537 FIFO 5,814 2,875 $15,876 3787 $ LIFO LIFO 3684 $ AVERAGE-COST 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, eg. 125.153 and final answers to 0 decimol places, eg 125) 3742 Attempts: 1 of 3 used AVERAGE-COST

Q: Explain CMO Mechanics?

A: Collateralized mortgage obligation: It is a financial instrument that raises funds by…

Q: What is Gordon model?

A: Intrinsic value of a stock is based on the internal information of an organization. That is, market…

Q: What islockbox system?

A: Banks provide various services to the organizations such as lock box facility, overdraft facility,…

Q: A figured out

A: Pre determined Overhead rate Calculation  Overhead cost  $      28,80,000 Divided By  Direct…

Q: What is BATNA?

A:

Q: Explain NAREIT Index?

A: NAREIT Index Rate: It implies the compound dividend yield which is communicated as far as a yearly…

Q: Describe the PW method?

A: There are different types of methods for comparing the worthiness of the projects. Some of the tem…

Q: What is Miller model?

A: It represents the impact of individual taxes or personal taxes into the valuation of a levered firm,…

Q: Consider REMICs?

A: A real estate mortgage investment conduit (REMIC) is a difficult puddle of mortgage securities…

Q: Identify the gragh?

A: Part a: Total direct material cost increases or decreases in direct proportion to change in activity…

Q: Define Volcker rule

A: Volcker Rule is a regulation that implies restrictions on the banks to involve in the stock market…

Q: I need examples

A: Skimming fraud can be possible in business or personal basis. It is white collor crime. Generally It…

Q: What is PNL?

A: The term PNL is used in accounting, finance, and business to refer profit and loss.

Q: What is alpha transfer?

A: The term ‘Alpha’ refers to the active return on investment. In other words, the excess return from…

Q: Describe about the NOL.

A: NOL means Net Operating Loss. This is a situation when company's deductions are more than it's…

Q: What is a CMO?

A: A collateralize mortgage obligation (CMO) refers to a type of mortgage-backed security that contains…

Q: What is a cfar?

A: Cash Flow at Risk (CFAR):Cash Flow at Risk is a term which focuses on the risk of receivables and…

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.