REI sells snowboards. Assume the following information relates to REI's purchases of snowboards durinSeptember. During the same month, 116 snowboards were sold.DateSept. 1Sept. 12Sept. 19Sept. 26DateExplanation Units Unit CostInventory$106PurchasesPurchasesPurchasesSept. 5Sept. 16Sept. 29TotalsSaleSaleSaleTotalsUnits8545415116495823Additional data regarding the company's sales of snowboards are provided below. Assume that REI uses aperpetual inventory system.145109110111Total Cost$1,5905,3416,3802,553$15,864 Calculate the weighted-average unit cost. (Round answers to 3 decimal places, e.g. 5.125.)September 1September 5September 12September 19$$$SASeptember 16 $Theendinginventory19September 26 $+ASeptember 29 $eTextbook and MediaCompute ending inventory at September 30 using FIFO, LIFO, and moving-average. (Round answers to Odecimal places, e.g. 125.)FIFOLIFOAVERAGE-COST

Mainly ending inventory can be valued in three method namely FIFO, Weighted average cost and LIFO…

Calculate the weighted-average unit cost. (Round answers to 3 decimal places, e.g. 5.125.) September 1 September 5 $ September 12 $ September 16 September 19 $ September 26 $ $ September 29 $ The ending inventory e Textbook and Media Compute ending inventory at September 30 using FIFO, LIFO, and moving-average. (Round answers to O decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST

Calculate the weighted-average unit cost. (Round answers to 3 decimal places, e.g. 5.125.) September 1 September 5 $ September 12 $ September 16 September 19 $ September 26 $ $ September 29 $ The ending inventory e Textbook and Media Compute ending inventory at September 30 using FIFO, LIFO, and moving-average. (Round answers to O decimal places, e.g. 125.) FIFO LIFO 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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Please provide the average cost for each of 4 blanks. Please indicate answers CLEARLY. There should be 4 answers for each of the blanks. Also, please provide clear explanations of how you go your answers WITHOUT using Excel.
Riverbed Corp reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 129 $ 5 $ 645 12 Purchases 344 6 2,064 23 Purchases 203 7 1,421 30 Inventory 234 Correct answer icon Your answer is correct. Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average unit cost $ enter weighted-average unit cost in dollars rounded to 3 decimal places Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers to 0 decimal places, e.g. 125.) FIFO LIFO Average-cost The cost of the ending inventory $ enter a dollar amount rounded to 0 decimal places $ enter a dollar amount rounded to 0 decimal places $ enter a dollar amount rounded to 0 decimal places The cost of goods sold $ enter a dollar amount rounded to 0…
Using the specific identification method: Date Units purchased Cost per unit Ending inventory March 1 18 Xbox′s 360 $ 265 4 Xbox′s from March April 1 43 Xbox′s 360 240 15 Xbox′s from April May 1 68 Xbox′s 360 230 12 Xbox′s from May a. Calculate the ending inventory. b. Calculate the cost of goods sold.
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Calculate cost of goods sold and ending inventory for Emergicare's bandages orders using FIFO, LIFO and average cost. There are 24 units in ending inventory. (Do not round your intermediate calculation and round your final answers to the nearest cent.) Date January 1 April 1 June 1 September 1 Total Units purchased Cost per unit 42 32 54 47 175 FIFO. Cost of Goods Sold. Ending Inven LIFO Average cost Total cost $ 6.20 6.20 5.20 6.20 $260.40 198.40 280.80 291.40 $ 1,031.00
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Calculate cost of goods sold and ending inventory for Emergicare's bandages orders using FIFO, LIFO and average cost. There are 37 units in ending inventory. Note: Do not round intermediate calculations, such as average cost per unit values. Round your answers to the nearest cent. Date January 1 April 1 June 1 September 1 Total FIFO LIFO Average cost Units Cost per purchased unit Total cost 51 $ 8.10 $ 413.10 46 7.35 338.10 61 7.10 433.10 56 7.60 425.60 214 $ 1,609.90 Cost of goods sold Ending inventory
Calculate cost of goods sold and ending inventory for Emergicare’s bandages orders using FIFO, LIFO and average cost. There are 37 units in ending inventory. Note: Do not round intermediate calculations, such as average cost per unit values. Round your answers to the nearest cent. Date Units purchased Cost per unit Total cost January 1 56 $ 6.80 $ 380.80 April 1 51 6.05 308.55 June 1 66 5.80 382.80 September 1 61 6.30 384.30 Total 234 $ 1,456.45 FIFO cost of goods sold and ending inventory (2 answers) LIFO cost of goods sold and ending inventory (2 answers) Average cost cost of goods sold and ending inventory (2 answers)
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Given the following: Numberpurchased Costper unit Total January 1 inventory 32 $ 4 $ 128 April 1 52 6 312 June 1 42 7 294 November 1 47 8 376 173 $ 1,110 a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 53 units). b. Calculate the cost of goods sold using the FIFO (ending inventory shows 53 units).