Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2pic for question 10 and one pic for question1 Question 10 --/1 View Policies Current Attempt in Progress Martinez Corp. sells a snowboard, EZslide, that

image text in transcribedimage text in transcribed

2pic for question 10

and one pic for question1

image text in transcribedimage text in transcribedimage text in transcribed
Question 10 --/1 View Policies Current Attempt in Progress Martinez Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Martinez Corp's purchases of EZslide snowboards during September. During the same month, 106 EZslide snowboards were sold. Martinez Corp. uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 15 $106 $ 1,590 Sept. 12 Purchases 46 109 5,014 Sept. 19 Purchases 54 110 5,940 Sept. 26 Purchases 21 111 2,331 Totals 136 $14,875 (a) Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to O decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory at September $ 30 $ $(a) Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to O decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory at September 30 (b) Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to O decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST Cost of goods sold $ $ eTextbook and Media Save for LaterQuestion 1 \"/1 View Policies Current Attempt in Progress In its rst month of operations, Wildhorse Co. made three purchases of merchandise in the following sequence: (1)200 units at $5, (2) 300 units at $7, and (3) 400 units at $8. Calculate average unit cost. (Round answer to 3 decimal places, e3. 5.125.) Average unit cost $ eTextbook and Media List of Accounts Compute the cost of the ending inventory under the average-cost method, assuming there are 100 units on hand at the end of the period. ( Round answer to 0 decimal places, as. 125.) The cost of the ending inventory $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Karen Braun, Linda S Bamber

2nd Edition

136091164, 978-0136091165

More Books

Students also viewed these Accounting questions

Question

4. Similarity (representativeness).

Answered: 1 week ago