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 September 30 and cost of goods sold using the FIFO and LIFO methods. |
Ending inventory units | 20 | =141-121 |
FIFO: | ||
Ending inventory at September 30 | 2160 | =20*108 |
Cost of goods sold | 12627 | =14787-2160 |
LIFO: | ||
Ending inventory at September 30 | 1940 | =20*97 |
Cost of goods sold | 12847 | =14787-1940 |
Sharon’s Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Sharon’s...
Exercise 6-5 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, 121 Xpert snowboards were sold. Linda's uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost 26 45 Sept. 1 Sept. 12 Sept. 19 Sept. 26 Inventory Purchases Purchases Purchases $97 102 104 $ 2,522 4,590 2,080 5,250 20 105 Totals 141 $14,442 Compute the ending inventory...
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...
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....
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...
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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 (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...
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...
elsa boards sells snowboards , xpert 6-4 Elsa's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Els shown below. During the same month, 264 Xpert snowboards were sold. Elsa's uses a periodic inventory syste Date Explanation Units Unit Cost Total cost 99$ 5,643 10,192 4,752 11,445 $32,032 Sept. 1Inventony Sept. 12Purchases Sept. 19 Purchases Sept. 26 Purchases109 57 104 108 105 98 Totals 308 Compute the ending inventory at September 30 and cost of...
ett Discover Current Attempt in Progress 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 $2.470 Sept. 12 Purchases 4,500 Sept. 19 Purchases 2,040 Sept. 26 Purchases 5.150 Totals $14,160 Compute the ending inventory at September 30 and cost...