Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round average cost per unit to 3 decimal places,e.g. 125.153 and final answers to O decimal places, e.g. 125.)Ending inventory atSeptember 30eTextbook and Media* Your answer is incorrect.$Cost of goods sold $eTextbook and MediaFIFOFIFO270511754Compute the cost of goods sold for the month using the FIFO, LIFO, and average-cost methods. (Round average cost per unit to 3decimal places, e.g. 125.153 and final answers to O decimal places, e.g. 125.)$LIFOLIFO58268133$$AVERAGE-COSTAVERAGE-COST REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the samemonth, 106 snowboards were sold. REI uses a periodic inventory system.DateSept. 1Sept. 12Sept. 19Sept. 26Explanation Units Unit CostInventory$100103PurchasesPurchasesPurchasesTotals15Ending inventory atSeptember 3042eTextbook and Media5721* Your answer is incorrect.135104$105Total CostFIFO$1,5004,326Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round average cost per unit to 3 decimal places,e.g. 125.153 and final answers to O decimal places, e.g. 125.)5,9282,205$13,9592705$LIFO5826$AVERAGE-COST

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Description: Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round average cost per unit to 3 decimal places,e.g. 125.153 and final answers to O decimal places, e.g. 125.)Ending inventory atSeptember 30eTextbook and Media* Your

This question is based on the valuation of inventory under cost accounting FIFO, LIFO, and Average…

Business

Accounting

Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Units Unit Cost Inventory $100 Purchases Purchases Purchases Totals 15 42 57 Ending inventory at September 30 21 135 * Your answer is incorrect. 103 $ 104 105 Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to O decimal places, e.g. 125.) Total Cost $ 1,500 4,326 5,928 2,205 $13,959 FIFO 2705 $ LIFO 5826 $ AVERAGE-COST

Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Units Unit Cost Inventory $100 Purchases Purchases Purchases Totals 15 42 57 Ending inventory at September 30 21 135 * Your answer is incorrect. 103 $ 104 105 Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to O decimal places, e.g. 125.) Total Cost $ 1,500 4,326 5,928 2,205 $13,959 FIFO 2705 $ LIFO 5826 $ 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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