Question

Sweet Acacia Co. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Sweet Acacia Co.’s purchases of EZslide snowboards during September. During the same month, 103 EZslide snowboards were sold.

Date		Explanation		Units		Unit Cost		Total Cost
Sept. 1		Inventory		14		$110		$1,540
Sept. 12		Purchases		45		113		5,085
Sept. 19		Purchases		49		114		5,586
Sept. 26		Purchases		25		115		2,875
		Totals		133				$15,086

Additional data regarding the company’s sales of EZslide snowboards are provided below. Assume that Sweet Acacia Co. uses a perpetual inventory system.

Date				Units
Sept. 5		Sale		9
Sept. 16		Sale		49
Sept. 29		Sale		45
		Totals		103

Calculate the average unit cost. (Round answers to 3 decimal places, e.g. 5.125.)

September 1		$enter a dollar amount
September 5
September 12
September 16
September 19
September 26
September 29

Compute ending inventory at September 30 using FIFO, LIFO, and moving-average. (Round answers to 0 decimal places, e.g. 125.)

		FIFO		LIFO		AVERAGE-COST
The ending inventory

Answer 1

Average unit cost is:

Date	Units	@	Cost per unit
Sep-01	14.00		110.000	1,540.00
Sep-05	5.00		110.000	550.00
Sep-12	50.00		112.700	5,635.00
Sep-16	1.00		112.700	112.70
Sep-19	50.00		113.974	5,698.70
Sep-26	75.00		114.316	8,573.70
Sep-29	30.00		114.316	3,429.48

Ending Inventory at September 30 is:

Date FIFO-Perpetual Good Purchased Cost of enock sold Cost per unit Cost of purchase Units sold Cost per mit Cost of goods sold Units Balance Endine mentor Units Tal cost per titEnding balance 110001 15400 140 150nm 3.00 500 550.00 5.00 110.00 55000 4511 DELO 509501 50.00 5.625.000 Place Sep-12 Palaute 112.00 112.00 Balance Sep-19 100 1001 112.00 114001 113001 112.00 5596.00 Balmace 50.00 26.09.001 40 ml 2011 112.00 114.00 115 on 113.00 5586.00 28750 8574001 520001 2875001 Balance Sep-20 10800 114.00 115.00 25.00 Balance 30.00 3,445.000 Date Truits Place LIFO-Perpetual Goods Purchased Cost ofan od sold Endine m an Cost per unit Cost of purchase Limitsson al Cost per mit Cost of goods soldal Units Costner mit al Cost Der mit En fine balance 14001 110.00 13400 14.00 15.10.00 51001 550.00 5.00 550.001 110.00 550.000 112.00 560851001 50001 5635-001 Balance 110.00 Sep-16 Bilance Sep-19 1001 1001 110.00 114001 49.00 Balance 1001 110001 110.000 110 001 5585.00 560600 11000 558500 2875.00 8.57100 110.00 23.06.00 110.00 11400 115.00 40001 250011 Balance 2.001 110.00 1140 Balance 30 001 3416.00 Date ingen-Perpetual Cost ofendid its soldal Cost per mitCost of good Good. Puhased la cost per unit Cost of Tits Balance Sep-05 Place Sep-12 om L11000000 450 4000 Balance Sen-16 Blake Sep-19 Endine Tmentary Uitslal Cost per mit Enstig balance 14001 110001 1 541001 14001 1540.00 11000 500 550.00 5.00 1100 550.000 45 113 m 5085 50.00 112.7 5.625.00 10 112201 1001 112.70 112.70 112.20 112.70 114.00 5586.00 11397 5.698 70 1001 112.70 112701 400011 11400 115.00 2875.000 75.00 1 1 1132 857370 30.00 3.470 48 30.00 3420 48 5.585.00 49001 Balance 50001 115.00 2875.00 Place 450011 114 32 Blue