HansabenDon't upload image please REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the samemonth, 102 snowboards were sold. REI uses a periodic inventory system.DateSept. 1Sept. 12.Sept. 19Sept. 26Explanation UnitsInventoryPurchasesPurchasesPurchasesTotals124550Cost of goods sold20127Show Transcribed TextUnit CostShow Transcribed Text$100103104105FIFOTotal Cost$1,200Compute 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.)4,6355,2002,100$13,135LIFO$AVERAGE-COST

Name: HansabenDon't upload image please REI sells snowboards. Assume the fol
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: HansabenDon't upload image please REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the samemonth, 102 snowboards were sold. REI uses a periodic inventory system.DateSept. 1Sept.

FIFO (First-In, First-Out) is an inventory method where the oldest items are sold first.LIFO…

Business

Accounting

REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the same month, 102 snowboards were sold. REI uses a periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19- Sept. 26 Explanation Units Inventory Purchases Purchases Purchases. Totals 12 45 50 20 127 Unit Cost $100 103 C 104 105 Total Cost $ 1,200 4,635 5,200 2,100 $13,135