Wildhorse sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Wildhorse's purchases of EZslide snowboards during September. During the same month, 103 EZslide snowboards were sold. Wildhorse uses a periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Units Inventory Purchases Purchases Purchases Totals 11 The ending inventory at September 30 Cost of goods sold 45 48 22 126 Unit Cost $102 105 106 107 Total Cost $1,122 4,725 Compute the ending inventory at September 30 and the cost of goods sold using the FIFO, LIFO, and average-cost methods. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to O decimal places, e.g. 5,125) FIFO 5,088 2,354 $13,289 LIFO Average-cost
Wildhorse sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Wildhorse's purchases of EZslide snowboards during September. During the same month, 103 EZslide snowboards were sold. Wildhorse uses a periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Units Inventory Purchases Purchases Purchases Totals 11 The ending inventory at September 30 Cost of goods sold 45 48 22 126 Unit Cost $102 105 106 107 Total Cost $1,122 4,725 Compute the ending inventory at September 30 and the cost of goods sold using the FIFO, LIFO, and average-cost methods. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to O decimal places, e.g. 5,125) FIFO 5,088 2,354 $13,289 LIFO Average-cost
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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![Wildhorse sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Wildhorse's
purchases of EZslide snowboards during September. During the same month, 103 EZslide snowboards were sold. Wildhorse uses a
periodic inventory system.
Date
Sept. 1
Sept. 12
Sept. 19
Sept. 26
Explanation Units
Inventory
Purchases
Purchases
Purchases
Totals
11
The ending inventory at
September 30
Cost of goods sold
45
48
22
126
Unit Cost
$102
105
106
107
Total Cost
$1,122
Compute the ending inventory at September 30 and the cost of goods sold using the FIFO, LIFO, and average-cost methods. (Round per
unit cost to 3 decimal places, e.g. 15.647 and final answers to O decimal places, e.g. 5,125.)
4,725
5,088
2,354
$13,289
FIFO
LIFO
Average-cost](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F769282b7-875c-47fc-8775-139c9b8de1ae%2Fbe75b777-6b9e-4665-b229-afeead36905e%2Frwstmb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Wildhorse sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Wildhorse's
purchases of EZslide snowboards during September. During the same month, 103 EZslide snowboards were sold. Wildhorse uses a
periodic inventory system.
Date
Sept. 1
Sept. 12
Sept. 19
Sept. 26
Explanation Units
Inventory
Purchases
Purchases
Purchases
Totals
11
The ending inventory at
September 30
Cost of goods sold
45
48
22
126
Unit Cost
$102
105
106
107
Total Cost
$1,122
Compute the ending inventory at September 30 and the cost of goods sold using the FIFO, LIFO, and average-cost methods. (Round per
unit cost to 3 decimal places, e.g. 15.647 and final answers to O decimal places, e.g. 5,125.)
4,725
5,088
2,354
$13,289
FIFO
LIFO
Average-cost
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