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Can someone please help me find the FIFO and LIFO? REI sells snowboards. Assume the following information relates to REl's purchases of snowboards during September.
Can someone please help me find the FIFO and LIFO?
REI sells snowboards. Assume the following information relates to REl's purchases of snowboards during September. During the same month, 109 snowboards were sold. REl uses a periodic inventory system. (a) Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to 0 decimal places, e.g. 125.) REI sells snowboards. Assume the following information relates to REl's purchases of snowboards during September. During the same month, 109 snowboards were sold. REl uses a periodic inventory system. (a) Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to 0 decimal places, e.g. 125.)Step by Step Solution
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