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Sandhill Co. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Sandhill Co.s purchases of EZslide snowboards during September.
Sandhill Co. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Sandhill Co.s purchases of EZslide snowboards during September. During the same month, 101 EZslide snowboards were sold. Sandhill Co. uses a periodic inventory system.
Compute the ending inventory 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 0 decimal places, e.g. 125.)
Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory $112 $ 1,120 Sept. 12 Purchases 115 5,750 Sept. 19 Purchases 116 6,612 Sept. 26 Purchases 117 2,457 Totals 138 $15,939Step by Step Solution
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