Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Pronghorn's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Pronghorn's purchases and sales of Xpert snowboards during September is
Pronghorn's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Pronghorn's purchases and sales of Xpert snowboards during September is shown below. During the same month, 158 Xpert snowboards were sold. Additional data regarding Pronghorn's sales of Xpert snowboards are provided below. Assume that Pronghorns uses a perpetual inventory system Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Unit Cost $99 104 Explanation Inventory Purchases Purchases Purchases Totals Units 34 59 26 65 184 108 Total Cost $3,366 6,136 2808 7215 $19.525 111 Units Unit Price Date Sept. 5 Sept. 16 Sept 29 $199 Sale Sale Sale Totals 16 65 77 158 199 209 Total Revenue $3.184 12.935 16.093 $32.212 Calculate moving average cost at Sept 15.12.16.1926 & 29. (Round answers to 2 decimal places. 125) September 1 $ September 5 $ September 12 $ September 16 $ September 19 $ September 26 $ September 29 $ eTextbook and Media Compute ending inventory at September using FIFO UFO, and moving average cost and cont permittede oses 12.50 and wer to decides. 1.250) FO LIFO MOVING AVERAGE COST The ending inventory Tertbook and Media Comprending intorin perpetual inventory wordingrypendiche cost per 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, eg. 1.250) FIFO LIFO The ending inventory $ MOVING-AVERAGE COST $ $ eTextbook and Media Compare ending inventory using a perpetual inventory system to ending inventory using a periodic inventory system. (Round average-cost per unit to 2 decimal places, ex. 12.50 and final answer to decimal places, es. 1.250) Perpetual Ending Inventory FIFO Ending inventory LIFO Periodic $ eTextbook and Media Which inventory cost flow method (FIFO UFO gives the same ending inventory value under both periodic and perpetual Which method gives different ending Inventory values? eTextbook and Media
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started