beginning inventory and purchases of EZslide snowboards during September. During the same month 103 EZslide snowboards were sold. Wildhorse uses a periodic inventory system Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 11 $102 $1.122 Sept. 12 Purchases 45 105 4,725 Sept. 19 Purchases 48 106 5,O88 Sept. 26 Purchases 22 107 2,354 Totals 126 $13.289 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 te 3 decimal places, eg 15.647 and final answers to 0 decimal places, es 5,125)

beginning inventory and purchases of EZslide snowboards during September. During the same month 103 EZslide snowboards were sold. Wildhorse uses a periodic inventory system Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 11 $102 $1.122 Sept. 12 Purchases 45 105 4,725 Sept. 19 Purchases 48 106 5,O88 Sept. 26 Purchases 22 107 2,354 Totals 126 $13.289 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 te 3 decimal places, eg 15.647 and final answers to 0 decimal places, es 5,125)

Name: Compute the ending inventory at September 30 and the cost of goods so
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: Compute the ending inventory at September 30 and the cost of goods sold using the FIFO, LIFO, and average cost methods. ound perunit cost to 3 decimal places, eg 15.647 and finef answers to Odeclmal places, e 5.125)FIFOLIFOAverage-costThe ending inv

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Please help me
Erecutive Suites, Inc., uses a perpetual inventory system. This system includes a perpetual in. PROMLEN ventory record for each of the 60 types of products the company keeps in stock. The following Ptat e transactions show the purchases and sales of a particular desk chair (product code DC-7) during y Pu September: Balance on hand, 50 units, cost $60 each Sept. Sept. 4 Sept. 8 Sept. 9 Sept. 20 Sept. 25 Purchase, 40 units, cost $70 each Sept. 30 Sale, 5 units, sales prica $110 each 1 $3,000 1,300 3,500 2,000 Purchase, 20 units, cost $65 each Sale, 35 units, sales price $100 each Purchase, 40 units, cost $65 each 6,000 2.800 550 Sale, 60 units, sales price $100 each ...... ......
Help me please asap...
Rogers Products uses a periodic inventory system. The company's records show the beginning inventory of PH4 oil filters on January 1 and the purchases of this item during the current year to be as follows. Jan. 1 Feb. 23 Apr. 20 May 4 Nov. 30 Beginning inventory Purchase Purchase Purchase Purchase Totals a. Average cost b. FIFO C. LIFO 13 units @ $3.00 16 units @ $3.50 31 units @ $3.80 42 units @ $4.00 19 units @ $5.00 121 units A physical count indicates 23 units in inventory at year-end. Determine the cost of the ending inventory on the basis of each of the following methods of inventory valuation. (Remember to use periodic inventory costing procedures.) (Round your intermediate and final answers to 2 decimal places.) Ending Inventory $ 39.00 56.00 117.80 168.00 95.00 $475.80
Rogers Products uses a periodic inventory system. The company's records show the beginning inventory of PH4 oil filters on January 1 and the purchases of this item during the current year to be as follows. Jan. 1 Feb. 23. Apr. 20 May 4 Nov. 30 Beginning inventory Purchase Purchase Purchase Purchase Totals a. Average cost b. FIFO c. LIFO 15 units @ $3.00 $ 45.00 14 units @ $3.50 26 units @ $3.80 41 units @ $4.00 19 units @ $5.00 115 units Ending Inventory 49.00 98.80 A physical count indicates 23 units in inventory at year-end. Determine the cost of the ending inventory on the basis of each of the following methods of inventory valuation. (Remember to use periodic inventory costing procedures.) (Round your intermediate and final answers to 2 decimal places.) 164.00 95.00 $451.80
Please help me. Thankyou.
Rogers Products uses a periodic inventory system. The company's records show the beginning inventory of PH4 oil filters on January 1 and the purchases of this item during the current year to be as follows. Jan. 1 Feb. 23 Apr. 20 May 4 Nov. 30 Beginning inventory. Purchase Purchase Purchase Purchase Totals a. b. FIFO C. LIFO Average cost A physical count indicates 200 units in inventory at year-end. Determine the cost of the ending inventory on the basis of each of the following methods of inventory valuation. (Remember to use periodic inventory costing procedures.) (Round intermediate calculations to 2 decimal places. Round your final answers to the nearest whole dollar.) 90 units @ $3.00 120 units @ $3.50 300 units @ $3.80 400 units @ $4.00 190 units @ $5.00 1,100 units Ending Inventory $ 270.00 420.00 1,140.00 1,600.00 950.00 $4,380.00
Please help me
Addison, Inc. uses a perpetual inventory system. Information regarding one inventory item for the month of September follows: Date Line Item Description Units and Cost Sep. 1 Inventory 20 units at $20 4 Sold 10 units 10 Purchased 30 units at $25 17 Sold 20 units 30 Purchased 10 units at $30 If Addison uses LIFO, the September 17 cost of goods sold would be
Owe Company X began August with 70 units of iron inventory that cost $25 each. During August, the company completed the following inventory transactions: UnitsUnit CostUnit Sales PriceAug. 3Sale60 $74.00Aug. 8Purchase80$43.00 Aug. 21Sale70 79Aug. 30Purchase2049Requirements: Prepare a perpetual inventory record for the merchandise inventory using the LIFO inventory costing method.Prepare a perpetual inventory record for the merchandise inventory using the weighted-average inventory costing method.Determine the company's cost of goods sold for August using FIFO, LIFO, and weighted-average inventory costing methods.Compute gross profit for August using FIFO, LIFO, and weighted-average inventory costing methods.
Windsor's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Windsor's purchases of Xpert snowboards during September is shown below. During the same month, 303 Xpert snowboards were sold. Windsor's uses a periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 (a) Explanation Inventory Purchases Purchases Purchases Totals Units Unit Cost Cost of goods sold 65 d Modi: 113 50 125 353.* $100 104 108 113 The ending inventory at September 30 $ Total Cost $6,500 11,752 5,400 Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods. 14,125 $37,777 FIFO LIFO
Samone Company reported the following purchases and sales for its onty product. Saimone unes a perpetual mventory system Determine the cost assigned to cost of goods sold using LIFO Date Activities Units Sold at Retail Units Acquired at Cost 150 units e sie.00 220 units e s12.00 May 1 Beginning Inventory Purchase Sales Purchase 10 140 units e s20.00 15 100 units e s13.00 24 Sales 90 units e s21.00 Mple Choce $2.0 $2.460