Blossom Company sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Blossom Company's purchases of EZslide snowboards during September. During the...


Blossom Company sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Blossom Company's purchases of EZslide snowboards during September. During the same month, 104 EZslide snowboards were sold.<br>Blossom Company uses a periodic inventory system.<br>Date<br>Explanation<br>Units<br>Unit Cost<br>Total Cost<br>Sept. 1<br>Sept. 12<br>Sept. 19<br>13<br>$104<br>$ 1,352<br>Inventory<br>Purchases<br>46<br>107<br>4,922<br>Purchases<br>50<br>108<br>5,400<br>Sept. 26<br>Purchases<br>20<br>109<br>2,180<br>Totals<br>129<br>$13,854<br>(a) Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to 0 decimal places, e.g. 125.)<br>FIFO<br>LIFO<br>AVERAGE-COST<br>The ending inventory at Sep<br>30<br>2$<br>$4<br>2$<br>(b) Compute the cost of goods sold 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.)<br>FIFO<br>LIFO<br>AVERAGE-COST<br>Cost of goods sold<br>2$<br>$1<br>$4<br>

Extracted text: Blossom Company sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Blossom Company's purchases of EZslide snowboards during September. During the same month, 104 EZslide snowboards were sold. Blossom Company uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Sept. 12 Sept. 19 13 $104 $ 1,352 Inventory Purchases 46 107 4,922 Purchases 50 108 5,400 Sept. 26 Purchases 20 109 2,180 Totals 129 $13,854 (a) Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to 0 decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory at Sep 30 2$ $4 2$ (b) Compute the cost of goods sold 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.) FIFO LIFO AVERAGE-COST Cost of goods sold 2$ $1 $4

Jun 09, 2022
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here