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Martinez's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Martinez's purchases and sales of Xpert snowboards during September is
Martinez's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Martinez's purchases and sales of Xpert snowboards during September is shown below. During the same month, 182 Xpert snowboards were sold. Additional data regarding Martinez's sales of Xpert snowboards are provided below. Assume that Martinez's uses a perpetual inventory system. Date Total Cost Sept. 1 Explanation Units Inventory 1 39 Purchases 68 Purchases Unit Cost $97 103 $3,783 Sept. 12 7,004 Sept. 19 3,180 Sept. 26 Purchases 8.625 Totals 212 $22,592 Date Units Unit Price Total Revenue $3.582 Sept. 5 Sept. 16 Sept. 29 Sale Sale Sale 18 75 89 _182 $199 1 99 209 14,925 18,601 Totals $37,108 Your answer is partially correct. Calculate moving average cost at Sept 1, 5, 12, 16, 19,26 & 29.(Round answers to 2 decimal places, e.. 1.25.) September 1 $ 101.58 101.60 September 5 $ September 12 $ September 16 $ September 19 $ September 26 $ September 29 $ 104.60 111.14 111.15 Your answer is partially correct. 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 0 decimal places, eg. 1,250.) FIFO LIFO MOVING-AVERAGE COST The ending inventory $ 3,450 $ 3,334.50 e Textbook and Media Your answer is partially correct. Compare ending inventory using a perpetual inventory system to ending inventory using a periodic inventory systern. (Round average cost per unit to 2 decimal places, e-g. 12.50 and final answer to 0 decimal places, e.g. 1,250.) Periodic Perpetual 3.450 3,450 Ending Inventory FIFO Ending Inventory LIFO $ $ 2,910 $ e Textbook and Media Your answer is partially correct. Which inventory cost flow method (FIFO, LIFO) gives the same ending inventory value under both periodic and perpetual? FIFO method Which method gives different ending inventory values? LIFO method
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