Kimmel, Financial Accounting, 8e Help I S CALCULATOR PRINTER VERSION BACKNEX CUL

Question

Kimmel, Financial Accounting, 8e Help I S CALCULATOR PRINTER VERSION BACKNEX CULATOR PRINTER VERSION : BACK ar with snowboard enthusiasts. Below is information relating to Sweet Acacia Corp.s Sweet Acacia Corp. sells a snowboard, EZslide, purchases of EZslide snowboard inventory system. s during September. During the same month, 102 EZslide snowboards were sold. Sweet Acacia Corp. uses a periodic Explanation Units Unit Cost Total Cost Date Sept. 1Inventory Sept. 12Purchases $106 109 110 $1,166 4,796 5,390 2,331 $13,683 Sept. 19Purchases Sept. 26 Purchases 21 Totals 125 (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 LIFOAVERAGE-COST The ending inventory at September 30 s (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 s Question Attempts: 0 of 5 used SAVE FOR LATER SUBMIT ANSWER

Explanation / Answer

Calculate ending inventory :

Calculate cost of goods sold :

FIFO LIFO Weighted average Ending inventory (21*111+2*110) = 2551 (11*106+12*109) = 2474 (13683/125)*23=2518

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