Carla Vista Co. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Carla Vista Co.'s purchases of EZslide snowboards during September. During the same month, 106 EZslide snowboards were sold. Carla Vista Co. uses a periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Units Inventory Purchases Purchases Purchases Totals 15 42 57 21 135 Unit Cost $100 103 104 105 Total Cost $1,500 4,326 5,928 2,205 $13,959
Carla Vista Co. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Carla Vista Co.'s purchases of EZslide snowboards during September. During the same month, 106 EZslide snowboards were sold. Carla Vista Co. uses a periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Units Inventory Purchases Purchases Purchases Totals 15 42 57 21 135 Unit Cost $100 103 104 105 Total Cost $1,500 4,326 5,928 2,205 $13,959
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 10RE: Jessie Stores uses the periodic system of calculating inventory. The following information is...
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Transcribed Image Text:(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 O decimal places, e.g. 125.)
The ending inventory at
September 30
$
Cost of goods sold $
FIFO
FIFO
$
$
(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. 125.153 and final answers to O decimal places, e.g. 125.)
LIFO
LIFO
$
$
AVERAGE-COST
AVERAGE-COST
Transcribed Image Text:Carla Vista Co. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Carla Vista
Co's purchases of EZslide snowboards during September. During the same month, 106 EZslide snowboards were sold. Carla Vista Co.
uses a periodic inventory system.
Date
Sept. 1
Sept. 12
Sept. 19
Sept. 26
Explanation Units
Inventory
Purchases
Purchases
Purchases
Totals
15
42
57
21
135
Unit Cost
$100
103
104
105
Total Cost
$1,500
4,326
5,928
2,205
$13,959
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