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Exercise 6-04 Wildhorse Co. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Wildhorse Co's purchases of EZslide snowboards
Exercise 6-04 Wildhorse Co. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Wildhorse Co's purchases of EZslide snowboards during September. During the same month, 107 EZslide snowboards were sold. Wildhorse Co. uses a periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Inventory Purchases Purchases Purchases Totals Units 15 49 51 Unit Cost $110 113 1 14 Total Cost $1,650 5,537 5,814 2,875 $15,876 140 (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 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 decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST Cost of goods sold LINK TO TEXT LINK TO VIDEO
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