Current Attempt in Progressi REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the same month, 105 snowboards were sold. REI uses a periodic inventory system Date Explanation Units Sept. 1 Inventory Sept. 12 Purchases Sept. 19. Purchases Sept. 26 Purchases Totals 15 45 50 20 130 Unit Cost $130 132 134 135 Total Cost $1,950 5,940 6,700 2,700 $17.290
Current Attempt in Progressi REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the same month, 105 snowboards were sold. REI uses a periodic inventory system Date Explanation Units Sept. 1 Inventory Sept. 12 Purchases Sept. 19. Purchases Sept. 26 Purchases Totals 15 45 50 20 130 Unit Cost $130 132 134 135 Total Cost $1,950 5,940 6,700 2,700 $17.290
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 3PA: Review the following transactions, and prepare any necessary journal entries for Renovation Goods....
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![Current Attempt in Progress
REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the same
month, 105 snowboards were sold. REI uses a periodic inventory system.
Date
Sept. 1
Sept. 12
Sept. 19.
Sept. 261
(a)
Explanation Units
Inventory
15
Purchases
45
Purchases
Purchases
Totals
50
20
130
Unit Cost
$130
132
134
135
Total Cost
$1.950
5,940
6,700
2,700
$17,290
Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round the average unit cost to 3 decimal places
eg. 123.234 and final answers to 0 decimal places, e.g. 125.)
ENG](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4cf9133d-2dd4-45f6-b833-be7167a81438%2F356ac367-6c46-4919-a182-ebd8f8c9d9d8%2Fw16fe03_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Current Attempt in Progress
REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the same
month, 105 snowboards were sold. REI uses a periodic inventory system.
Date
Sept. 1
Sept. 12
Sept. 19.
Sept. 261
(a)
Explanation Units
Inventory
15
Purchases
45
Purchases
Purchases
Totals
50
20
130
Unit Cost
$130
132
134
135
Total Cost
$1.950
5,940
6,700
2,700
$17,290
Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round the average unit cost to 3 decimal places
eg. 123.234 and final answers to 0 decimal places, e.g. 125.)
ENG
![Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round the average unit cost to 3 decimal places,
eg. 123.234 and final answers to 0 decimal places, e.g. 125.)
Ending inventory at
September 30
FIFO
LIFO
$
AVERAGE-COST](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4cf9133d-2dd4-45f6-b833-be7167a81438%2F356ac367-6c46-4919-a182-ebd8f8c9d9d8%2Fqpj7ls_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round the average unit cost to 3 decimal places,
eg. 123.234 and final answers to 0 decimal places, e.g. 125.)
Ending inventory at
September 30
FIFO
LIFO
$
AVERAGE-COST
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