assist with a1 Sarasota Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating toSarasota Corp's purchases of EZslide snowboards during September. During the same month, 100 EZslide snowboards were sold.DateSept. 1Sept. 12Sept. 19Sept. 26DateSept. 5Sept. 16Sept. 29ExplanationInventory(a1)PurchasesPurchasesPurchasesTotalsSaleSaleSaleTotalsSeptember 1 $September 5 $September 12 $September 16September 19September 26$$UnitsSeptember 29 $Additional data regarding the company's sales of EZslide snowboards are provided below. Assume that Sarasota Corp. uses aperpetual inventory system.84943100Units|11485019128||Unit Cost$110Calculate the average unit cost. (Round answers to 3 decimal places, e.g. 5.125.)113114115Total Cost$1,2105,4245,7002,185$14,519

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Description: assist with a1 Sarasota Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating toSarasota Corp's purchases of EZslide snowboards during September. During the same month, 100 EZslide snowboa

Average unit cost means the approximate per unit of a product. It represent the average amount of…

Business

Accounting

Sarasota Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Sarasota Corp's purchases of EZslide snowboards during September. During the same month, 100 EZslide snowboards were sold. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Date Sept. 5 Sept. 16 Sept. 29 Explanation Units Inventory Purchases Purchases Purchases Totals (a1) Sale Sale Sale Totals September 1 $ September 5 September 12 September 16 September 19 Additional data regarding the company's sales of EZslide snowboards are provided below. Assume that Sarasota Corp. uses a perpetual inventory system. September 26 Units September 29 $ 8 49 43 11 100 48 50 19 128 Unit Cost $110 Calculate the average unit cost. (Round answers to 3 decimal places, e.g. 5.125.) 113 114 115 Total Cost $1,210 5,424 5,700 2,185 $14,519

Sarasota Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Sarasota Corp's purchases of EZslide snowboards during September. During the same month, 100 EZslide snowboards were sold. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Date Sept. 5 Sept. 16 Sept. 29 Explanation Units Inventory Purchases Purchases Purchases Totals (a1) Sale Sale Sale Totals September 1 $ September 5 September 12 September 16 September 19 Additional data regarding the company's sales of EZslide snowboards are provided below. Assume that Sarasota Corp. uses a perpetual inventory system. September 26 Units September 29 $ 8 49 43 11 100 48 50 19 128 Unit Cost $110 Calculate the average unit cost. (Round answers to 3 decimal places, e.g. 5.125.) 113 114 115 Total Cost $1,210 5,424 5,700 2,185 $14,519

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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Concept explainers

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.

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Question

assist with a1

Sarasota Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to
Sarasota Corp's purchases of EZslide snowboards during September. During the same month, 100 EZslide snowboards were sold.
Date
Sept. 1
Sept. 12
Sept. 19
Sept. 26
Date
Sept. 5
Sept. 16
Sept. 29
Explanation
Inventory
(a1)
Purchases
Purchases
Purchases
Totals
Sale
Sale
Sale
Totals
September 1 $
September 5 $
September 12 $
September 16
September 19
September 26
$
$
Units
September 29 $
Additional data regarding the company's sales of EZslide snowboards are provided below. Assume that Sarasota Corp. uses a
perpetual inventory system.
8
49
43
100
Units
|
11
48
50
19
128
||
Unit Cost
$110
Calculate the average unit cost. (Round answers to 3 decimal places, e.g. 5.125.)
113
114
115
Total Cost
$1,210
5,424
5,700
2,185
$14,519

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(a2)
Compute ending inventory at September 30 using FIFO, LIFO, and moving-average. (Round per unit cost to 3 decimal places, e.g.
15.647 and final answers to O decimal places, e.g. 5,125. Round answers to O decimal places, e.g. 125.)
The ending inventory $
FIFO
$
LIFO
AVERAGE-COST

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