Please help me Current Attempt in ProgressREI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the samemonth, 107 snowboards were sold. REI uses a periodic inventory system.DateSept. 1Sept. 12Sept. 19Sept. 26(a)Explanation UnitsInventory13PurchasesPurchasesPurchasesTotals46Ending inventory atSeptember 306021140Unit Cost$117$120121122Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round average cost per unit to 3 decimalplaces, e.g. 125.153 and final answers to O decimal places, e.g. 125.)Total Cost$ 1,5215,5207,2602,562$16,863FIFO69$LIFO$AVERAGE-COST

Name: Please help me Current Attempt in ProgressREI sells snowboards. Assume
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Description: Please help me Current Attempt in ProgressREI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the samemonth, 107 snowboards were sold. REI uses a periodic inventory system.DateSept.

The inventory can be valued using various methods as FIFO, LIFO and average method. Using average…

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REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the same month, 107 snowboards were sold. REI uses a periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Units Inventory 13 Purchases Purchases Purchases Totals 46 60 21 140 Unit Cost $117 120 121 122 Total Cost $1,521 5,520 7,260 2,562 $16,863 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 0 decimal places, e.g. 125.)

REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the same month, 107 snowboards were sold. REI uses a periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Units Inventory 13 Purchases Purchases Purchases Totals 46 60 21 140 Unit Cost $117 120 121 122 Total Cost $1,521 5,520 7,260 2,562 $16,863 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 0 decimal places, e.g. 125.)

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 11RE: Jessie Stores uses the periodic system of calculating inventory. The following information is...

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