ha.5 Shamrock sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Shamrock'spurchases of EZslide snowboards during September. During the same month, 105 EZslide snowboards were sold. Shamrock uses aperiodic inventory system.DateExplanationUnitsUnit CostTotal CostSept. 1Inventory15$90$1,35012Purchase45924,14019Purchase50944,70026Purchase20209555Total1301,900$12,090Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods.Ending inventory at September30FIFO$LIFOCompute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods.FIFOCost of goods sold$SA$LIFOSA$$+AAVERAGE-COSTAVERAGE-COST

Step 1:In the periodic Inventory method inventory account is not updated at each purchase or sale…

Answered: Shamrock sells a snowboard, EZslide,…

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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Shamrock sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Shamrock's purchases of EZslide snowboards during September. During the same month, 105 EZslide snowboards were sold. Shamrock uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 15 $90 $1,350 12 Purchase 45 92 4,140 19 Purchase 50 94 4,700 26 Purchase 20 20 95 55 Total 130 1,900 $12,090 Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. Ending inventory at September 30 FIFO $ LIFO Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods. FIFO Cost of goods sold $ SA $ LIFO SA $ $ +A AVERAGE-COST AVERAGE-COST
Metlock sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Metlock's purchases of EZslide snowboards during September. During the same month, 105 EZslide snowboards were sold. Metlock uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 15 $108 $1,620 12 Purchase 45 110 4,950 19 Purchase 50 112 5,600 26 Purchase 20 113 2,260 Total 130 $14,430 Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. Ending inventory at September 30 $ FIFO $ LIFO Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods. FIFO Cost of goods sold $ eTextbook and Media Save for Later LIFO AVERAGE-COST AVERAGE-COST Attempts: 0 of 3 used Submit Answer
Kingbird sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Kingbird's purchases of EZslide snowboards during September. During the same month, 105 EZslide snowboards were sold. Kingbird uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 15 $80 $1,200 12 Purchase 45 82 3,690 19 Purchase 50 84 4,200 26 Purchase 20 85 1,700 Total 130 $10,790 Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. Ending inventory at September 30 FIFO LIFO $ AVERAGE-COST Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods. Cost of goods sold FIFO LIFO $ AVERAGE-COST
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REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the same month, 103 snowboards were sold. REl uses a periodic inventory system. \table[[Date,Explanation,Units,Unit Cost,Total Cost],[Sept. 1,Inventory,10,$111,$1,110 b) compute the cost of goods sold for the month using the fifo lifo and average cost methods
Maria’s Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Maria’s purchases of Xpert snowboards during September is shown below. During the same month, 120 Xpert snowboards were sold. Maria’s uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 28 $97 $ 2,716 Sept. 12 Purchases 45 102 4,590 Sept. 19 Purchases 20 104 2,080 Sept. 26 Purchases 50 105 5,250 Totals 143 $14,636
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Can you please show all of your work and show where you are getting the numbers from? Thank you. Barbara's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Barbara's purchases of Xpert snowboards during September is shown below. During the same month, 130 Xpert snowboards were sold. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 30 $90 $2,700 Sept. 12 Purchases 50 96 4,800 Sept. 19 Purchases 15 100 1,500 Sept. 26 Purchases 50 104 5,200 Totals 145 $14,200 Additional data regarding Barbara's sales of Xpert snowboards are provided below. Assume that Barbara's uses a perpetual inventory system. Date Units Unit Price Total Revenue Sept. 5 Sale 20 $185 $3,700 Sept. 16 Sale 50 185 9,250 Sept. 29 Sale 60 208 12,480 Totals 130 $25,430 Calculate moving average cost at Sept 1, 5, 12, 16, 19, 26 & 29. (Round answers 2 decimal places, e.g. 1.25.) September 1 %24 90 September 5 %24 September 12 %24 93.75 September 16 %24 September 19…
Tamarisk's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Tamarisk's purchases of Xpert snowboards during September is shown below. During the same month, 157 Xpert snowboards were sold. Tamarisk's uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 34 $101 $ 3,434 Sept. 12 Purchases 59 105 6,195 Sept. 19 Purchases 26 109 2,834 Sept. 26 Purchases 65 114 7,410 Totals 184 $19,873 x Your answer is incorrect. Try again. Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO The ending inventory at September 30 8173 Cost of goods sold 12463 00
Blossom Company sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Blossom Company’s purchases of EZslide snowboards during September. During the same month, 104 EZslide snowboards were sold. Blossom Company uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 13 $104 $ 1,352 Sept. 12 Purchases 46 107 4,922 Sept. 19 Purchases 50 108 5,400 Sept. 26 Purchases 20 109 2,180 Totals 129 $13,854 (a) Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to 0 decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory at September 30 $enter a dollar amount rounded to 0 decimal places $enter a dollar amount rounded to 0 decimal places…
i need the answer quickly
Betty’s Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Betty’s purchases of Xpert snowboards during September is shown below. During the same month, 118 Xpert snowboards were sold. Betty’s uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 28 $97 $ 2,716 Sept. 12 Purchases 47 102 4,794 Sept. 19 Purchases 22 104 2,288 Sept. 26 Purchases 52 105 5,460 Totals 149 $15,258 Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO The ending inventory at September 30 $Enter a dollar amount $Enter a dollar amount Cost of goods sold $Enter a dollar amount $Enter a dollar amount

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