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. 26 Explanation Inventory Purchases Purchases Purchases Totals Units Unit Cost $126 15 45 50 20 130 128 130 131 Total Cost $1,890 5,760 6,500 2,620 $16,770
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. 26 Explanation Inventory Purchases Purchases Purchases Totals Units Unit Cost $126 15 45 50 20 130 128 130 131 Total Cost $1,890 5,760 6,500 2,620 $16,770
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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Question
![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. 26
Explanation
Inventory
Purchases
Purchases
Purchases
Totals
Units Unit Cost
15
45
50
20
130
$126
128
130
131
Total Cost
$1,890
5,760
6,500
2,620
$16,770](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9781bd28-fcf5-473d-9247-6584610d1f56%2F47facd24-a088-4b47-85c8-6f69355feca6%2F7vtmd3g_processed.png&w=3840&q=75)
Transcribed Image Text: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. 26
Explanation
Inventory
Purchases
Purchases
Purchases
Totals
Units Unit Cost
15
45
50
20
130
$126
128
130
131
Total Cost
$1,890
5,760
6,500
2,620
$16,770
![Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round the
average unit cost to 3 decimal places, e.g. 123.234 and final answers to O decimal places, e.g. 125.)
Ending
inventory
at
September
30
LA
FIFO
$
LIFO
AVERAG](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9781bd28-fcf5-473d-9247-6584610d1f56%2F47facd24-a088-4b47-85c8-6f69355feca6%2Fkrs228e_processed.png&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, e.g. 123.234 and final answers to O decimal places, e.g. 125.)
Ending
inventory
at
September
30
LA
FIFO
$
LIFO
AVERAG
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