Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Whispering Winds's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Whispering Winds's purchases and sales of Xpert snowboards during

image text in transcribedimage text in transcribed

Whispering Winds's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Whispering Winds's purchases and sales of Xpert snowboards during September is shown below. During the same month, 128 Xpert snowboards were sold. Additional data regarding Whispering Winds's sales of Xpert snowboards are provided below. Assume that Whispering Winds's uses a perpetual inventory system. Units 27 Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Unit Cost $97 103 106 110 Explanation Inventory Purchases Purchases Purchases Totals 47 Total Cost $ 2,619 4,841 2,226 5,830 $15,516 21 53 148 Unit Price $199 Date Sept. 5 Sept. 16 Sept. 29 Units 13 53 Sale Sale Sale Total Revenue $2,587 10,547 12,958 $26,092 199 62 209 62 Totals 128 Calculate moving average cost at Sept 1.5. 12, 16, 19.26 & 29. (Round answers to 2 decimal places, eg. 1.25.) September 1 September 5 September 12 September 16 September 19 September 26 September 29 $ $ $ $ $ $ $ e Textbook and Media 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 O decimal places, eg 1.250.) FIFO MOVING-AVERAGE COST The ending inventory $ LIFO S $ e Textbook 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, e.g. 12.50 and final answer to 0 decimal places, eg. 1.250.) Periodic Perpetual $ $ Ending Inventory FIFO Ending Inventory LIFO $ S

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The UCAS Guide To Getting Into Economics Finance And Accountancy At University

Authors: Ucas, Targetjobs.Co.UK

1st Edition

9781908077172

More Books

Students also viewed these Accounting questions

Question

What are data?

Answered: 1 week ago

Question

explain the concept of strategy formulation

Answered: 1 week ago