Question
Donna s Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Donna s purchases of Xpert snowboards during September is
Donnas Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating toDonnas purchases of Xpert snowboards during September is shown below. During the same month, 123 Xpert snowboards were sold. Donnas uses a periodic inventory system.
Date
Explanation
Units
Unit Cost
Total Cost
Sept. 1
Inventory
28
$97
$ 2,716
Sept. 12
Purchases
45
101
4,545
Sept. 19
Purchases
20
103
2,060
Sept. 26
Purchases
50
104
5,200
Totals
143
$14,521
Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods.
FIFO
LIFO
The ending inventory at September 30
$enter a dollar amount
$enter a dollar amount
Cost of goods sold
$enter a dollar amount
$enter a dollar amount
For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold.
FIFO
LIFO
The sum of ending inventory and cost of goods sold
$enter a dollar amount
$enter a dollar amount
Donna's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Donna's purchases of Xpert snowboards during September is shown below. During the same month, 123 Xpert snowboards were sold. Donna's uses a periodic inventory system Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 28 $97 $2.716 Purchases 45 101 Sept. 12 4545 Purchases Sept 19 20 103 2,060 Sept. 26 Purchases 50 5.200 104 Totals 143 $14,521 (a) Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO The ending inventory at September 30 $ $ Cost of goods sold $ e Textbook and Media Save for Later Attempts: 0 of 5 used Submit (b) For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold. FIFO LIFO $ LA $ The sum of ending inventory and cost of goods sold
Donnas Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating toDonnas purchases of Xpert snowboards during September is shown below. During the same month, 123 Xpert snowboards were sold. Donnas uses a periodic inventory system.
Date | Explanation | Units | Unit Cost | Total Cost | ||||
Sept. 1 | Inventory | 28 | $97 | $ 2,716 | ||||
Sept. 12 | Purchases | 45 | 101 | 4,545 | ||||
Sept. 19 | Purchases | 20 | 103 | 2,060 | ||||
Sept. 26 | Purchases | 50 | 104 | |||||
5,200 | ||||||||
Totals | ||||||||
143 | $14,521 | |||||||
Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods.
FIFO | LIFO | |||
The ending inventory at September 30 | $enter a dollar amount | $enter a dollar amount | ||
Cost of goods sold | $enter a dollar amount | $enter a dollar amount |
For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold.
FIFO | LIFO | |||
The sum of ending inventory and cost of goods sold | $enter a dollar amount | $enter a dollar amount |
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