E6-4 Mather sells a snowboard, EZslide. that is popular with snowboard enthusiasts. Below is information relating to Mather's purchases of EZslide snowboards during Sep- tember. During the same month, 102 EZslide snowboards were sold. Mather uses a periodic and cost of riodic FIFO, rost. inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Sept. 12 o Purchases Sept. 19 Sept. 26 $100 $ 1,200 4,635 8O5,200 Inventory 12 45 103 Purchases 50 104 Purchases 20 105 2,100 Totals 127 $13,135 Instructions Compute the ending inventory at September 30 and the cost of goods sold using the FIFO, LIFO, and average-cost methods. (For average-cost, round the average unit cost to three decimal places.) Prove the amount allocated to cost of goods sold under each method. E6-5 Rusthe Inc uses a neriodic inyentory system. Its records show the following for the
E6-4 Mather sells a snowboard, EZslide. that is popular with snowboard enthusiasts. Below is information relating to Mather's purchases of EZslide snowboards during Sep- tember. During the same month, 102 EZslide snowboards were sold. Mather uses a periodic and cost of riodic FIFO, rost. inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Sept. 12 o Purchases Sept. 19 Sept. 26 $100 $ 1,200 4,635 8O5,200 Inventory 12 45 103 Purchases 50 104 Purchases 20 105 2,100 Totals 127 $13,135 Instructions Compute the ending inventory at September 30 and the cost of goods sold using the FIFO, LIFO, and average-cost methods. (For average-cost, round the average unit cost to three decimal places.) Prove the amount allocated to cost of goods sold under each method. E6-5 Rusthe Inc uses a neriodic inyentory system. Its records show the following for the
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 4CP: Golden Eagle Company began operations on April 1 by selling a single product. Data on purchases and...
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