Wildhorse Snowboards sells an ultra-lightweight snowboard that is considered to be one of the best on the market. Information follows for Wildhorse's purchases and sales of the ultra-lightweight snowboard in October: Date Oct. 1 10 12 13 25 27 Transaction Beginning inventory Purchase Sale Purchase Sale Purchase Units 25 30 (42) 35 (45) 20 Unit Purchase Price Unit Sales Price $297 304 312 319 $469 479
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- Imu puicilaseu UII August 24, ohlv 150 assumed sold This - 11. Now assume the same information: The Beach Bum Surf Co. is evaluating the inventory of its most popular boogie board as the summer season ends. They had beginning inventory of 20 boards at a cost of $25. Then purchases of 130 boards at $27 each, 140 boards at $28 each, and 135 boards at $30 each. If ending inventory is 15 boards and Beach Bum uses the LIFO method, what would be the dollar amount assigned to ending inventory? A. $423. B. $11,980. C. $11,605. D. $375.Donna's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Donna's purchases of Xpert snowboards during September is shown below. During the same month, 123 Xpert snowboards were sold. Donna's uses a periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 (a) Explanation Units Unit Cost Inventory 28 $97 Purchases 101 103 (b) Purchases Purchases Totals Solution 45 20 50 Your Answer Correct Answer 143 * Your answer is incorrect. Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods. The ending inventory at September 30 Cost of goods sold 104 The sum of ending inventory and cost of goods sold $ Total Cost $ 2,716 4,545 2,060 5,200 $14,521 $ FIFO 9321 For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold. FIFO 0 $ $ LIFO 11805 LIFO 0 Attempts: 1 of 1 usedMetlock 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
- 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…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-COSTCompute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods. The ending inventory Cost of goods sold FIFO 2240 13242 $ LIFO 2000 11018
- (c) What is gross profit under each method? Gross profit $ Save for Later FIFO LIFO Attempts: 0 of 2 uTamarisk'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 00Sports Haven keeps an inventory of FITBIT Wearable Technology. Assume an inventory of 35 FitBits at the beginning of the year at a cost of $44.32 each. Additional FitBits were purchased as follows: 15 at $45.50 each on March 22, 30 at $45.80 each on May 2, 10 at $46.20 each on July 14, and 40 at $43.90 each on September 9. Use LIFO to determine the cost of the ending inventory. Assume 32 FitBits in inventory at the end of the year.
- Use the following information to answer Exercises E6-16 i Golf Unlimited carries an inventory of putters and other golf clubs. The sales price of each putter is $119. Company records indicate the following for a particular line of Golf Unlimited's putters: Unit Cost Item Quantity Date $ 53 24 Nov. 1 Balance 6. Sale 20 30 70 8 Purchase 17 Sale 30 30 SaleRequired Informatlon [The following information apples to the questions displayed below] The Shirt Shop had the following transactions for T-shirts for Year 1, Its first year of operations. Purchased 500 units @ $ 7 = January 20 April 21 July 25 September 19 $3,500 Purchased 30e units @ $9 = Purchased 38e units @ $12 = Purchased 190 units @ $14 = 2,700 4,560 2,660 During the year, The Shirt Shop sold 1,110 T-shirts for $23 each. b. Record the above transactions In general journal form and post to T-accounts assuming (1) FIFO, (2) LIFO, and (3) weighted-average methods. Use a separate set of journal entries and T-accounts for each method. Assume all transactions are cash transactions.Cheyenne sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Cheyenne's beginning inventory and purchases of EZslide snowboards during September. During the same month, 104 EZslide snowboards were sold. Cheyenne uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 13 $100 $1,300 Sept. 12 Purchases 43 103 4,429 Sept. 19 Purchases 49 104 5,096 Sept. 26 Purchases 19 105 1,995 Totals 124 $12,820 Compute the ending inventory at September 30 and the cost of goods sold using the FIFO, LIFO, and average-cost methods. (Round per unit cost to 3 decimal places, eg. 15.647 and final answers to O decimal places, eg. 5,125.) FIFO LIFO Average-cost The ending inventory at September 30 2$ $ $ Cost of goods sold %4 %24 %24