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Question 3 of 3 < = Kingbird, Inc. sells a snowboard, WhiteOut, that is popular with snowboard enthusiasts. Presented below is information relating to
Question 3 of 3 < = Kingbird, Inc. sells a snowboard, WhiteOut, that is popular with snowboard enthusiasts. Presented below is information relating to Kingbird, Inc.'s purchases of White Out snowboards during September. During the same month, 105 White Out snowboards were sold at $170 each. Kingbird, Inc. uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 24 $100 $2,400 Sept. 12 Purchases 40 106 4,240 Sept. 19 Purchases 23 110 2,530 Sept. 26 Purchases 41 112 4,592 Totals 128 $13,762 (a) Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods. Ending inventory FIFO FEB 13 $ LIFO tv A P Canv
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Financial Accounting Tools for Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
5th Edition
9781118560952, 1118560957, 978-0470239803
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