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Mary's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Mary's purchases of Xpert snowboards during September is shown below. During the same month, 120 Xpert snowboards were sold. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Units Unit Cost Inventory $90 Purchases Purchases Purchases Totals Date Sept. 5 Sale Sept. 16 Sale Sept.29 Sale 25 Totals 45 20 45 135 Additional data regarding Mary's sales of Xpert snowboards are provided below. Assume that Mary's uses a perpetual inventory system. Units 10 50 60 100 120 105 108 Total Cost $2,250 4,500 2,100 4,860 $13,710 Unit Price Total Revenue $180 $1,800 180 9,000 206 12,360 $23,160

Mary's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Mary's purchases of Xpert snowboards during September is shown below. During the same month, 120 Xpert snowboards were sold. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Units Unit Cost Inventory $90 Purchases Purchases Purchases Totals Date Sept. 5 Sale Sept. 16 Sale Sept.29 Sale 25 Totals 45 20 45 135 Additional data regarding Mary's sales of Xpert snowboards are provided below. Assume that Mary's uses a perpetual inventory system. Units 10 50 60 100 120 105 108 Total Cost $2,250 4,500 2,100 4,860 $13,710 Unit Price Total Revenue $180 $1,800 180 9,000 206 12,360 $23,160

FINANCIAL ACCOUNTING
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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Mary's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Mary's purchases of Xpert snowboards during September is shown below. During the same month, 120 Xpert snowboards were sold. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Date Sept. 5 Sept. 16 Sept. 29 Explanation Units Inventory Purchases Purchases Purchases (211 Totals Sale Sale Sale 25 Totals 45 20 45 135 Additional data regarding Mary's sales of Xpert snowboards are provided below. Assume that Mary's uses a perpetual inventory system. Unit Cost $90 100 60 105 120 108 Total Cost $2,250 4,500 2,100 4,860 $13,710 Units Unit Price Total Revenue 10 $180 $1,800 50 180 9,000 206 12,360 $23,160
Transcribed Image Text:Mary's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Mary's purchases of Xpert snowboards during September is shown below. During the same month, 120 Xpert snowboards were sold. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Date Sept. 5 Sept. 16 Sept. 29 Explanation Units Inventory Purchases Purchases Purchases (211 Totals Sale Sale Sale 25 Totals 45 20 45 135 Additional data regarding Mary's sales of Xpert snowboards are provided below. Assume that Mary's uses a perpetual inventory system. Unit Cost $90 100 60 105 120 108 Total Cost $2,250 4,500 2,100 4,860 $13,710 Units Unit Price Total Revenue 10 $180 $1,800 50 180 9,000 206 12,360 $23,160
Calculate moving average cost at Sept 1, 5, 12, 16, 19, 26 & 29. (Round answers to 2 decimal places, e.g. 1.25.) September 1 $ September 5 $ September 12 $ September 16 $ September 19 $ September 26 $ September 29 $ eTextbook and Media Compute ending inventory at September 30 using FIFO, LIFO, and moving-average cost. (Round average-cost per unit to 2 decimal places, e.g. 12.50 and final answer to 0 decimal places, eg. 1,250) The ending inventory Save for Later $ eTextbook and Media FIFO D LIFO MOVING-AVERAGE COST Attempts: Attempts: 0 of 3 used Submit Answer
Transcribed Image Text:Calculate moving average cost at Sept 1, 5, 12, 16, 19, 26 & 29. (Round answers to 2 decimal places, e.g. 1.25.) September 1 $ September 5 $ September 12 $ September 16 $ September 19 $ September 26 $ September 29 $ eTextbook and Media Compute ending inventory at September 30 using FIFO, LIFO, and moving-average cost. (Round average-cost per unit to 2 decimal places, e.g. 12.50 and final answer to 0 decimal places, eg. 1,250) The ending inventory Save for Later $ eTextbook and Media FIFO D LIFO MOVING-AVERAGE COST Attempts: Attempts: 0 of 3 used Submit Answer
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