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Margaret's Boards sells a snowboard, Xpert that is popular with snowboard enthusiasts. Information relating to Margaret's purchases of Xpert snowboards during September is shown below.
Margaret's Boards sells a snowboard, Xpert that is popular with snowboard enthusiasts. Information relating to Margaret's purchases of Xpert snowboards during September is shown below. During the same month, 120 Xpert snowboards were sold. Date Explanation Units Unit Cost Total Cost $ 1.250 Sept 1 Inventory 25 $50 Sept. 12 Purchases 45 SB 2,610 Sept. 19 Purchases 15 60 900 Sept. 26 Purchases 40 61 2.440 Totals 125 $7.200 Additional data regarding Margaret's sales of Xpert snowboards are provided below. Assume that Margaret's uses a perpetual Inventory system, Units Date Sept. 5 Unit Price Total Revenue $181 $1.810 Sale 10 - Sale 50 181 9,050 Sept. 16 Sept. 29 Sale 60 213 12.780 Totals 120 $ 23,640 Compute ending inventory at September 30 using FIFO, LIFO, and moving average cost. (Round average cost per unit to 2 decimal places, eg, 12.50 and final answer to decimal places, es. 1.250.) FIFO LIFO MOVING AVERAGE COST The ending inventory eTextbook and Media Save for at Attempts: 0 of 3 used Submit
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