Sage Hill sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Sage Hill's purchases of EZslide snowboards during September. During the same month, 105 EZslide snowboards were sold. Sage Hill uses a periodic inventory system. Date Sept. 1 12 19 26 Explanation Units Unit Cost Inventory $110 Purchase Purchase Purchase Total 15 45 50 20 130 Ending inventory at September 30 112 $ 114 115 Total Cost $1,650 FIFO 5,040 5,700 Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. 2,300 $14,690 S LIFO AVERAGE COST
Sage Hill sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Sage Hill's purchases of EZslide snowboards during September. During the same month, 105 EZslide snowboards were sold. Sage Hill uses a periodic inventory system. Date Sept. 1 12 19 26 Explanation Units Unit Cost Inventory $110 Purchase Purchase Purchase Total 15 45 50 20 130 Ending inventory at September 30 112 $ 114 115 Total Cost $1,650 FIFO 5,040 5,700 Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. 2,300 $14,690 S LIFO AVERAGE COST
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Sage Hill sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Sage Hill's purchases
of EZslide snowboards during September. During the same month, 105 EZslide snowboards were sold. Sage Hill uses a periodic
inventory system.
Date
Sept. 1
12
19
26
Explanation Units
Inventory
Purchase
Purchase
Purchase
Total
15
45
50
20
130
Unit Cost
Ending inventory at September 30
$110
$
112
114
115
Total Cost
$1,650
FIFO
5,040
5,700
Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods.
2,300
$14,690
SA
$
LIFO
AVERAGE-COST
Transcribed Image Text:Compute the ending Inventory at September 30 using the FIFO, LIFO and average-cost methods.
Ending inventory at September 30
Cost of goods sold
$
$
Compute the cost of goods sold at September 30 using the FIFO, LIFO and average cost methods.
eTextbook and Media
FIFO
FIFO
LIFO
LIFO
AVERAGE COST
AVERAGE COST
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