REI sell snowboards. Assume the following information relates to REI's purchases of snowbourds during tegnemberDuring the same month, 100 snowboards were sold REloses a periodic inventory systemDaleSept. 1Sept. 12Sept 19Sept. 26Explanation Unit Unit ContInventory15$110Purchases48113Purchases33114Purchases24115Totals140Compute the ending inventory at September 30 using FIFO LIFO, and average-cost. (Round average cost per3 decimal places eg. 125.153 and final answers to 0 decimal places 125Endinginventory atSeptember30eTextbook and MediaFIFOYour answer is incorrectCost ofgoods sold2775FIFO$1.6305,42460423.760$15.87613654LIFOCompute the cost of goods sold for the month using the FIFO, LIFO, and average-cost methock Mound average costper unit to 3 decimal ploces, eg 125 153 end final enmers to 0 alecimal places, 12531344UFDETDAAVERAGE-COST$3402AVERAGE-COST130825

Name: REI sell snowboards. Assume the following information relates to REI'
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Description: REI sell snowboards. Assume the following information relates to REI's purchases of snowbourds during tegnemberDuring the same month, 100 snowboards were sold REloses a periodic inventory systemDaleSept. 1Sept. 12Sept 19Sept. 26Explanation Unit Unit

The first in first out method is an inventory valuation method. As per this method, the cost of…

Business

Accounting

During the same month 100 snowboards Dale Sept 19 Sun 26 Explanation Units Unit Co Inventary 15 $110 Padan 41 113 Purchas 114 115 Purchas Total Ending inventory at September 30 eTextbook and Media Cest of 24 140 Compute the ending inventory at September 30using FIFO LIFO and average cost Round everage cost per un to 3 decimal places eg 125 153 and final animers to 0 decimal placg 125 FIFO T 2775 FIFO $1430 5434 THEY 2760 $15876 $ LIFO Compute the cost of goods sold for the month using the FIFO, LIFO and average cost methock Sound everage c per unit to 3 decimal places eg 125.153 and final onwers to 0 decima po 125) 1344 LIFO AVERAGE COST 3 3400 AVERAGE-COST 13023

During the same month 100 snowboards Dale Sept 19 Sun 26 Explanation Units Unit Co Inventary 15 $110 Padan 41 113 Purchas 114 115 Purchas Total Ending inventory at September 30 eTextbook and Media Cest of 24 140 Compute the ending inventory at September 30using FIFO LIFO and average cost Round everage cost per un to 3 decimal places eg 125 153 and final animers to 0 decimal placg 125 FIFO T 2775 FIFO $1430 5434 THEY 2760 $15876 $ LIFO Compute the cost of goods sold for the month using the FIFO, LIFO and average cost methock Sound everage c per unit to 3 decimal places eg 125.153 and final onwers to 0 decima po 125) 1344 LIFO AVERAGE COST 3 3400 AVERAGE-COST 13023

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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