REI sells snowboards. Assume the following information relates to REI's purchases of snowboards duringSeptember. During the same month, 107 snowboards were sold. REI uses a periodic inventory system.DateSept. 1Sept. 12Sept. 19Sept. 26(a)EndinginventoryatExplanationInventoryPurchasesSeptember30PurchasesPurchasesTotalsUnits15495125140FIFOUnit Cost$110113114115Total Cost$ 1,6505,5375,814Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round averagecost per unit to 3 decimal places, e.g. 125.153 and final answers to 0 decimal places, e.g. 125.)2,875$15,876LIFOVAAVERAGE-COST

Name: REI sells snowboards. Assume the following information relates to REI
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Description: REI sells snowboards. Assume the following information relates to REI's purchases of snowboards duringSeptember. During the same month, 107 snowboards were sold. REI uses a periodic inventory system.DateSept. 1Sept. 12Sept. 19Sept. 26(a)Endinginvent

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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 (a) Ending inventory at September Explanation Inventory 30 Purchases Purchases Purchases Totals Units 15 49 51 25 140 FIFO Unit Cost $110 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.) 113. 114 115 Total Cost $1,650 5,537 5,814 2,875 $15,876 LIFO AVERAGE-COST

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 (a) Ending inventory at September Explanation Inventory 30 Purchases Purchases Purchases Totals Units 15 49 51 25 140 FIFO Unit Cost $110 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.) 113. 114 115 Total Cost $1,650 5,537 5,814 2,875 $15,876 LIFO AVERAGE-COST

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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give me the ending inventory for sept 30 and cost of goods sold for sept 30 ( FIFO, LIFO, AVERAGE COST)
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