Question
Sage Hill Inc. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Sage Hill Inc.s purchases of EZslide snowboards
Sage Hill Inc. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Sage Hill Inc.s purchases of EZslide snowboards during September. During the same month, 116 EZslide snowboards were sold.
Date | Explanation | Units | Unit Cost | Total Cost | ||||
---|---|---|---|---|---|---|---|---|
Sept. 1 | Inventory | 15 | $110 | $1,650 | ||||
Sept. 12 | Purchases | 49 | 113 | 5,537 | ||||
Sept. 19 | Purchases | 58 | 114 | 6,612 | ||||
Sept. 26 | Purchases | 24 | 115 | 2,760 | ||||
Totals | 146 | $16,559 |
Additional data regarding the companys sales of EZslide snowboards are provided below. Assume that Sage Hill Inc. uses a perpetual inventory system.
Date | Units | |||
---|---|---|---|---|
Sept. 5 | Sale | 8 | ||
Sept. 16 | Sale | 54 | ||
Sept. 29 | Sale | 54 | ||
Totals | 116 |
Calculate the average unit cost. (Round answers to 3 decimal places, e.g. 5.125.)
September 1 | $enter a dollar amount | |
---|---|---|
September 5 | $enter a dollar amount | |
September 12 | $enter a dollar amount | |
September 16 | $enter a dollar amount | |
September 19 | $enter a dollar amount | |
September 26 | $enter a dollar amount | |
September 29 | $enter a dollar amount |
Compute ending inventory at September 30 using FIFO, LIFO, and moving-average. (Round answers to 0 decimal places, e.g. 125.)
FIFO | LIFO | AVERAGE-COST | ||||
---|---|---|---|---|---|---|
The ending inventory | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount |
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