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Pronghorn Corp uses a periodic inventory system. Its records show the following for the month of May, in which 78 units were sold. Date Explanation
Pronghorn Corp uses a periodic inventory system. Its records show the following for the month of May, in which 78 units were sold. Date Explanation Units Unit Cost Total Cost May 1 Inventory 35 $280 $8 9 Purchase 25 225 24 Purchase 40 400 - $905 Total 100 $905 Calculate the weighted average unit cost. (Round answer to 3 decimal places, eg. 5.125.) Weighted-average unit cost $ e Textbook and Media Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to 0 decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory at May 31 $ Question 10 View Policies Current Attempt in Progress Pharoah Company sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Pharoah Company's purchases of EZslide snowboards during September. During the same month, 102 EZslide snowboards were sold. Pharoah Company uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory Sept. 12 Purchases $1,680 1236 .396 124 7,440 Sept. 19 Purchases Sept. 26 Purchases 125 3.000 Totals $18,516 (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, eg. 125.153 and final answers to O 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 $
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