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 X Your answer is incorrect. Try again. For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold. FIFO LIFO The sum of ending inventory and cost of goods sold
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 X Your answer is incorrect. Try again. For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold. FIFO LIFO The sum of ending inventory and cost of goods sold
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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
Transcribed Image Text:X Your answer is incorrect. Try again.
For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold.
FIFO
LIFO
The sum of ending inventory and cost of goods sold
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