ending inventory average periodic and perpetual
Exercise 6-16 (Part Level Submission) Cheyenne's Boards sells a wowboard, Xpert, that is popular with snowboard enthusiasts Information relating to Cheyenne's purchases of Xpert snowboards during September is shown below. During the same month, 166 Xpert snowboards were sold. Cheyennesses a perpetual inventory system Sep 1 fept. 12 Explanation Inventory Purchases Purcha Purchases als HK$970 1,050 Total Cont HKS 31,040 65,100 29.160 2 60 1.140 HK$19.00 45 Sept. 16 HK$1,900 1,960 HK$1,040 Sale Sale Sale Totals 16 09 81 2.110 170.910 H5810 (b) Compare ending inventory using a perpetual inventory system to ending inventory using a periodic inventory system. (Mound per unit cost to 2 decimal places. 15.25 and final answers to decimal places, 225.) Periodic Perpetual Ending Inventory FIFO HKS HKS Ending Inventory Average HKS Exercise 6-16 (Part Level Submission) Cheyenne's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Cheyenne's purchases of Xpert snowboards during September is shown below. During the same month, 166 Xpert snowboards were sold. Cheyenne's uses a perpetual inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Inventory Purchases Purchases Purchases Totals Units 32 62 27 60 181 Unit Cost HK$970 1,050 1,080 1,140 Total Cost HK$ 31,040 65,100 29,160 68,400 HK$193,700 Date Sept. 5 Sept. 16 Sept. 29 Sale Sale Sale Units 16 69 81 166 Unit Price HK$1,940 1,940 2,110 Total Cost HK$31,040 133,860 170,910 HK$335,810 Totals Your answer is correct. Compute ending inventory at September 30 using FIFO and moving-average cost. (Round per unit cost to 2 decimal places, e.g. 15.25 and final answers to o decimal places, e.g. 125.) Compute ending inventory at September 30 using FIFO and moving average cost. (Round per unit cost to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 125.) FIFO MOVING-AVERAGE COST The ending inventory HK$ 17,100 HKSU 16,697 SHOW SOLUTION LINK TO TEXT Attempts: 1 of 15 used (b) Your answer is partially correct. Try again. Compare ending inventory using a perpetual inventory system to ending inventory using a periodic inventory system. (Round per unit cost to 2 decimal places, e.g. 15.25 and final answers to o decimal places, e.g. 125.) Periodic Perpetual Ending Inventory FIFO HK$I 17,100 HK$1 17,100 Your answer is partially correct. Try again. Compare ending inventory using a perpetual inventory system to ending inventory using a periodic inventory system. (Round per unit cost to 2 decimal places, e.g. 15.25 and final answers to o decimal places, e.g. 125.) Periodic Perpetual Ending Inventory FIFO 17,100 17,100 HK$ HK$! Ending Inventory Average HK$U HKSU Compare ending inventory using a perpetual inventory system to ending inventory using a periodic inventory system. (Round per unit cost to 2 decimal places, e.g. 15.25 and final answers to o decimal places, e.g. 125.) Periodic Perpetual Ending Inventory FIFO HK$ 17,100 HKSL 17,100 Ending Inventory Average HK$ 51,758 14,770 HK$ Exercise 6-16 (Part Level Submission) Cheyenne's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Cheyenne's purchases of Xpert snowboards during September is shown below. During the same month, 166 Xpert snowboards were sold. Cheyenne's uses a perpetual inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Inventory Purchases Purchases Purchases Totals Units 32 62 27 60 181 Unit Cost HK$970 1,050 1,080 1,140 Total Cost HK$ 31,040 65,100 29,160 68,400 HK$193,700 Units Date Sept. 5 Sept. 16 Sept. 29 Sale Sale Sale Totals 16 69 81 166 Unit Price HK$1,940 1,940 2,110 Total Cost HK$31,040 133,860 170,910 HK$335,810
