80.2K

Verified Solution

Link Copied!

Exercise 6-18 al-a2, b-C Sarasota's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Sarasota's pui regarding Sarasota's sales of Xpert snowboards are provided below. Assume that Sarasota's uses a perpetual inventory syster Unit Cost Date Total Cost $97 Explanation Units Inventory 57 Purchases 99 Purchases 44 Purchases 110 Sept. 1 Sept. 12 Sept. 19 Sept. 26 105 $ 5,529 10,395 4,664 106 114 12,540 Totals 310 $33,128 Unit Price Total Revenue Date Units Sale 26 Sept. 5 Sept. 16 Sept. 29 $199 199 Sale 110 $5,174 21,890 27,170 Sale 130 209 Totals 266 $54,234 Calculate moving average cost at Sept 1, 5, 12, 16, 19, 26 & 29. (Round answers to 2 decimal places, e.g. 1.25.) September 1 $ September 5 $ September 12 $ September 16 $ September 19 $ September 26 $ September 29 $ Compute ending inventory at September 30 using FIFO, LIFO, and moving average cost. (Round average-cost per unit to FIFO LIFO MOVING-AVERAGE COST The ending inventory $ Compare ending inventory using a perpetual inventory system to ending inventory using a periodic inventory system. (Roun Periodic Perpetual Ending Inventory FIFO $ $ Ending Inventory LIFO $ $ Which inventory cost flow method (FIFO, LIFO) gives the same ending inventory value under both periodic and perpetual? Which method gives different ending inventory values

Answer & Explanation Solved by verified expert

See Answer