E6.5 (LO 2), AP Mather sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Mather's beginning inventory and purchases of EZslide snowboards during September. During the same month, 102 EZslide snowboards were sold. Mather uses a periodic inventory system. Date Unit Cost Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Inventory Purchases Purchases Purchases Totals Units 12 45 50 20 127 $100 103 104 105 Total Cost $ 1,200 4.635 5.200 2,100 $13.135 Instructions Compute the ending inventory at September 30 and the cost of goods sold using the FIFO, LIFO, and average-cost methods. (For average-cost, round the weighted-average unit cost to three decimal places.) Prove the amount allocated to cost of goods sold under each method.

E6.5 (LO 2), AP Mather sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Mather's beginning inventory and purchases of EZslide snowboards during September. During the same month, 102 EZslide snowboards were sold. Mather uses a periodic inventory system. Date Unit Cost Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Inventory Purchases Purchases Purchases Totals Units 12 45 50 20 127 $100 103 104 105 Total Cost $ 1,200 4.635 5.200 2,100 $13.135 Instructions Compute the ending inventory at September 30 and the cost of goods sold using the FIFO, LIFO, and average-cost methods. (For average-cost, round the weighted-average unit cost to three decimal places.) Prove the amount allocated to cost of goods sold under each method.

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Description: E6.5 (LO 2), AP Mather sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Mather's beginning inventory and purchases of EZslidesnowboards during September. During the same month, 102 EZsl

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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