Question

Novak Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Novak Corp.'s purchases of EZslide snowboards during September. During the same month, 106 EZslide snowboards were sold. Date Explanation Units Total Cost Unit Cost $117 Sept. 1 Inventory $1,521 Sept. 12 Sept. 19 Purchases Purchases 55 121 6 5,400 ,655 Sept. 26 Purchases 2,684 Totals 135 $16,260 Additional data regarding the company's sales of EZslide snowboards are provided below. Assume that Novak Corp. uses a perpetual inventory system. Date Units Sept. 5 Sale Sept. 16 Sale Sept. 29 Sale Sale 2 Totals 106

Answer 1

veiage unthcat 16260 20.44 13 5 Cost goods sold Endrg rueatony 106 y 120.44 127 66.64 29 *120 44 3492 76 Date Purchases Sales Rate Total Balance unit Rat Tofeal 152) Unfb Total Rate Unit Sept 117 13 Septs 13 17 1521 936 5 585 117 Sept12 120 45 5400 5460 45 12-0 11967 5981 50 Sep 16 1194 5625 9 47 119-9 359-1 (21 6655 55 6655 121 Sept 19 55 58 120-9370 14. 2684 &0 181.225 1698 22 29 266 9684 22 122 Sept 26 121.225 6182 475 51 24 121-225 35SS.525 Sept 27 unt eat Average Sept Sept 5 117 119.7 Sept 12 Sept 16 Sept 26 Cept 89 1907 120.932 121.325 WIT 2019-11-6 02:38

FIPO Pauchases Decta Sales claring Units Rate Ampunt unit Rata Amount Unds Rate Ama (521 13 117 117 936 Sept 12 45 585 120 5 117 5400 45 120 5400 Sept 1o 1/7 42 360 S040 (20 Sept 19 55 121 55 121 2689 122 22 Septo6 122 2684 120 360 12) 46 847 12-1 2684 122 22 Clo eing Inventry undes FIFD- R49126&4- 23) CLotihs Cales Unt Rate fimt Parchares Rate Amt LIF0 Unit Rab Amd Unit Dede I52) 13 117 Sept Spte ceptz 936 45 20 5460 120 $400 41 120 5400 Sapt 16 23 4 17 2 6655 121 55 121 Sept 19 Sept 26 Sep 29 55 122 2684 22 2684 122 122 2684 22 22 117 35 3 121 3509 29 121 3146 26 Cloeng Bruedon under FIFO 3497 Sept 89 rt
sorry for not linings:

Closing inventory

Under FIFO:3531

LIFO:3497

AVERAGE COST 3515.525