**Current Attempt in Progress**Pharoah Company sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Pharoah Company's purchases of EZslide snowboards during September. During the same month, 102 EZslide snowboards were sold. Pharoah Company uses a periodic inventory system.| Date | Explanation | Units | Unit Cost | Total Cost ||------------|-------------|-------|-----------|------------|| Sept. 1 | Inventory | 14 | $120 | $1,680 || Sept. 12 | Purchases | 52 | $123 | $6,396 || Sept. 19 | Purchases | 60 | $124 | $7,440 || Sept. 26 | Purchases | 24 | $125 | $3,000 || **Totals** | | **150** | | **$18,516** |**(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 0 decimal places, e.g., 125.)*| The ending inventory at September 30 | FIFO | LIFO | AVERAGE-COST ||--------------------------------------|------|------|--------------|| | $ | $ | $ |**(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 0 decimal places, e.g., 125.)*| Cost of goods sold | FIFO | LIFO | AVERAGE-COST ||--------------------|------|------|--------------|| | $ | $ | $ |**Attempts: 0 of 3 used** [Submit Answer]

Name: **Current Attempt in Progress**Pharoah Company sells a snowboard, EZs
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Description: **Current Attempt in Progress**Pharoah Company sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Pharoah Company's purchases of EZslide snowboards during September. During the same month, 102 EZ

First In, First Out (FIFO) is a costing technique that states that assets that are bought or…

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Current Attempt in Progress Pharoah Company sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Pharoah Company's purchases of EZslide snowboards during September. During the same month, 102 EZslide snowboards were sold. Pharoal Company uses a periodic inventory system.

Current Attempt in Progress Pharoah Company sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Pharoah Company's purchases of EZslide snowboards during September. During the same month, 102 EZslide snowboards were sold. Pharoal Company uses a periodic inventory system.

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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