(a) Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3decimal places, e.g. 125.153 and final answers to O decimal places, e.g. 125.)The ending inventory atSeptember 30$Cost of goods sold $FIFOFIFO$$(b) Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3decimal places, e.g. 125.153 and final answers to O decimal places, e.g. 125.)LIFOLIFO$$AVERAGE-COSTAVERAGE-COST Carla Vista Co. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Carla VistaCo's purchases of EZslide snowboards during September. During the same month, 106 EZslide snowboards were sold. Carla Vista Co.uses a periodic inventory system.DateSept. 1Sept. 12Sept. 19Sept. 26Explanation UnitsInventoryPurchasesPurchasesPurchasesTotals15425721135Unit Cost$100103104105Total Cost$1,5004,3265,9282,205$13,959

Name: (a) Compute the ending inventory at September 30 using the FIFO, LIFO
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Description: (a) Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3decimal places, e.g. 125.153 and final answers to O decimal places, e.g. 125.)The ending inventory atSeptember 30$Cost o

Ending inventory is the inventory in hand at the end of the period. It is the amount of inventory…

Business

Accounting

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

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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