Question
Clint Corporation sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Flint Corporations purchases of EZslide snowboards during September.
Clint Corporation sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Flint Corporations purchases of EZslide snowboards during September. During the same month, 106 EZslide snowboards were sold.
Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 13 $ 110 $ 1,430 Sept. 12 Purchases 45 113 5,085 Sept. 19 Purchases 55 114 6,270 Sept. 26 Purchases 22 115 2,530 Totals 135 $ 15,315
Additional data regarding the companys sales of EZslide snowboards are provided below. Assume that Flint Corporation uses a perpetual inventory system. Date Units Sept. 5 Sale 8 Sept. 16 Sale 47 Sept. 29 Sale 51 Totals 106
Compute ending inventory at September 30 using FIFO, LIFO, and moving-average
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Managerial Accounting Tools For Business Decision Making
Authors: Jerry J Weygandt, Paul D Kimmel, Jill E Mitchell
9th Edition
9781119754053
