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Ivanhoe Company selilis a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Ivanhoe Company's purchases of EZslide snowboards durinyg September.
Ivanhoe Company selilis a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Ivanhoe Company's purchases of EZslide snowboards durinyg September. During the same month, 95 EZslide snowboards were sold. Ivanhoe Company uses a periodic Iinventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Purchases21 Explanation UnitsUnit Cost Total Cost 12 $106 109 110 $ 1,272 4,905 6,050 2,331 $14,558 45 Totals 133 September 30 using the FIFO LFO and average cost methods. (a) Compute the ending inventory answers to O decimal places, e.g. 125) a (Round average cost per unit to 3 decimal places, ag. 125.153 and final 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 answers to 0 decimal places, e.g. 125.) places, eg. 125.153 and final FIFO LIFO AVERAGE-COST Cost of goods sold
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