Solution
FIFO | LIFO | |
Ending Inventory | $ 2,100 | $ 1,940 |
Cost of Goods Sold | $ 12,342 | $ 12,502 |
.
FIFO | LIFO | |
The sum of ending inventory and cost of goods sold | $ 14,442 | $ 14,442 |
Working
FIFO | ||||
Total Units Available for sale | 141 | |||
Units Sold | 121 | |||
Closing Stock in Units | 20 | |||
Valuation | ||||
Ending Inventory | 20 | @ | $ 105.00 | $ 2,100 |
Value Of Ending Inventory | $ 2,100 | |||
Cost of Goods sold | $ 12,342 |
.
LIFO | ||||
Total Units Available for sale | 141 | |||
Units Sold | 121 | |||
Closing Stock in Units | 20 | |||
Valuation | ||||
Ending Inventory | 20 | @ | $ 97.00 | $ 1,940 |
Value Of Ending Inventory | $ 1,940 | |||
Cost of Goods sold | 14442 minus 1940 | $ 12,502 |
Exercise 6-5 Linda's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating...
Exercise 6-05 a-b (Video) Dorothy's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Dorothy's purchases of Xpert snowboards during September is shown below. During the same month, 121 Xpert snowboards were sold. Dorothy's uses a periodic inventory system Date Explanation Units Unit Cost Total Cost $ 2,470 Inventory $95 Sept. 1 26 4,590 Sept. 12 Purchases 45 102 Purchases 104 Sept. 19 20 2,080 5,250 50 Purchases Sept. 26 105 $14,390 141 Totals Compute...
Exercise 6-05 a-b (Part Level Submission) (Video) Dorothy's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Dorothy's purchases of Xpert snowboards during September is shown below. During the same month, 121 Xpert snowboards were sold. Dorothy's uses a periodic inventory system Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Units Unit Cost Total Cost $2,470 4,590 2,080 5,250 $14,390 Inventory Purchases Purchases Purchases Totals 26 45 20 50 141 $95 102 104...
Sharon’s Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Sharon’s purchases of Xpert snowboards during September is shown below. During the same month, 121 Xpert snowboards were sold. Sharon’s uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 26 $97 $ 2,522 Sept. 12 Purchases 45 105 4,725 Sept. 19 Purchases 20 107 2,140 Sept. 26 Purchases 50 108 5,400 Totals 141 $14,787 Compute the ending inventory at...
Exercise 6-4 (Part Level Submission) Linda's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Linda's purchases of Xpert snowboards during September is shown below. During the same month, 123 Xpert snowboards were sold. Linda's uses a periodic inventory system. Units 27 Unit Cost $100 Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 105 Explanation Inventory Purchases Purchases Purchases Totals 46 20 106 110 Total Cost $ 2,700 4,830 2,120 5,610 $15,260 52 144...
Betty’s Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Betty’s purchases of Xpert snowboards during September is shown below. During the same month, 121 Xpert snowboards were sold. Betty’s uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 26 $96 $ 2,496 Sept. 12 Purchases 45 104 4,680 Sept. 19 Purchases 20 106 2,120 Sept. 26 Purchases 50 107 5,350 Totals 141 $14,646 (a) Compute the ending inventory...
Exercise 6-05 a-b (Video) Sandra's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Sandra's purchases of Xpert snowboards during September is shown below. During the same month, 121 Xpert snowboards were sold. Sandra's uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 26 $95 $ 2,470 Sept. 12 Purchases 45 100 4,500 Sept. 19 Purchases 20 102 2,040 Sept. 26 Purchases 50 103 5,150 Totals 141 $14,160 Compute...
Mary's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Mary's purchases of Xpert snowboards during September is shown below. During the same month, 121 Xpert snowboards were sold. Mary's uses a periodic inventory system Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory $95 $2,470 451004,500 Sept. 12 Purchases Sept. 19 Purchases 2,040 5,150 Sept. 26 Purchases Totals $14,160 Compute the ending inventory at September 30 and cost of goods sold using the...
Betty’s Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Betty’s purchases of Xpert snowboards during September is shown below. During the same month, 121 Xpert snowboards were sold. Betty’s uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 26 $96 $ 2,496 Sept. 12 Purchases 45 104 4,680 Sept. 19 Purchases 20 106 2,120 Sept. 26 Purchases 50 107 5,350 Totals 141 $14,646 (a) Your answer is correct....
Linda’s Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Linda’s purchases of Xpert snowboards during September is shown below. During the same month, 151 Xpert snowboards were sold. Linda’s uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 33 $100 $ 3,300 Sept. 12 Purchases 56 103 5,768 Sept. 19 Purchases 25 109 2,725 Sept. 26 Purchases 63 110 6,930 Totals 177 $18,723 A) Compute the ending inventory...
Exercise 6-05 a-b (Part Level Submission) Splish Brothers’s Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Splish Brothers’s purchases of Xpert snowboards during September is shown below. During the same month, 121 Xpert snowboards were sold. Splish Brothers’s uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 26 $102 $ 2,652 Sept. 12 Purchases 45 103 4,635 Sept. 19 Purchases 20 108 2,160 Sept. 26 Purchases 50 114...