Question
In: Accounting
Splish Brothers Inc. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information...
Splish Brothers Inc. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Splish Brothers Inc.’s purchases of EZslide snowboards during September. During the same month, 101 EZslide snowboards were sold.
|
Date |
Explanation |
Units |
Unit Cost |
Total Cost |
||||
| Sept. 1 | Inventory |
11 |
$106 |
$1,166 |
||||
| Sept. 12 | Purchases |
46 |
109 |
5,014 |
||||
| Sept. 19 | Purchases |
53 |
110 |
5,830 |
||||
| Sept. 26 | Purchases |
21 |
111 |
2,331 |
||||
| Totals |
131 |
$14,341 |
Additional data regarding the company’s sales of EZslide snowboards
are provided below. Assume that Splish Brothers Inc. uses a
perpetual inventory system.
|
Date |
Units |
|||
| Sept. 5 | Sale |
8 |
||
| Sept. 16 | Sale |
48 |
||
| Sept. 29 | Sale |
45 |
||
| Totals |
101 |
Compute ending inventory at September 30 using FIFO, LIFO, and moving-average. (Round answers to 0 decimal places, e.g. 125.)
Please show work.
**This is all the information given. What exact information do you feel is not there? Then maybe I can help.**
Solutions
ekkarill92 answered 3 years agoRelated Solutions
Shamrock, Inc. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating...
Shamrock, Inc. sells a snowboard, EZslide, that is popular with
snowboard enthusiasts. Below is information relating to Shamrock,
Inc.’s purchases of EZslide snowboards during September. During the
same month, 103 EZslide snowboards were sold. Shamrock, Inc. uses a
periodic inventory system. Date Explanation Units Unit Cost Total
Cost Sept. 1 Inventory 10 $111 $ 1,110 Sept. 12 Purchases 56 114
6,384 Sept. 19 Purchases 60 115 6,900 Sept. 26 Purchases 24 116
2,784 Totals 150 $17,178 (a) Compute the ending...
Mather sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to...
Mather sells a snowboard, EZslide, that is popular with
snowboard enthusiasts. Below is information relating to Mather’s
purchases of EZslide snowboards during September. During the same
month, 102 EZslide snowboards were sold.
Date
Explanation
Units
Unit Cost
Total Cost
Sept. 1
Inventory
12
$100
$1,200
Sept. 12
Purchases
45
103
4,635
Sept. 19
Purchases
50
104
5,200
Sept. 26
Purchases
20
105
2,100
Totals
127
$13,135
Additional data regarding the company’s sales of EZslide snowboards
are provided below. Assume that...
Blossom Company sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating...
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
Inventory
13
$115
$ 1,495
Sept. 12
Purchases
48
118
5,664
Sept. 19
Purchases
56
119
6,664
Sept. 26
Purchases
23
120
2,760
Totals
140
$16,583
(a) Compute the ending...
Blue Spruce Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information...
Blue Spruce Corp. sells a snowboard, EZslide, that is popular
with snowboard enthusiasts. Below is information relating to Blue
Spruce Corp.’s purchases of EZslide snowboards during September.
During the same month, 108 EZslide snowboards were sold. Blue
Spruce Corp. uses a periodic inventory system.
Date
Explanation
Units
Unit Cost
Total Cost
Sept. 1
Inventory
11
$116
$ 1,276
Sept. 12
Purchases
48
119
5,712
Sept. 19
Purchases
60
120
7,200
Sept. 26
Purchases
21
121
2,541
Totals
140
$16,729
(a)...
Blossom Company sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating...
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 Inventory 13 $104 $ 1,352 Sept. 12 Purchases 46
107 4,922 Sept. 19 Purchases 50 108 5,400 Sept. 26 Purchases 20 109
2,180 Totals 129 $13,854 (a) Compute the ending...
Pearl Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating...
Pearl Corp. sells a snowboard, EZslide, that is popular with
snowboard enthusiasts. Below is information relating to Pearl
Corp.’s purchases of EZslide snowboards during September. During
the same month, 102 EZslide snowboards were sold. Pearl Corp. uses
a periodic inventory system.
Date
Explanation
Units
Unit Cost
Total Cost
Sept. 1
Inventory
10
$107
$ 1,070
Sept. 12
Purchases
46
110
5,060
Sept. 19
Purchases
53
111
5,883
Sept. 26
Purchases
21
112
2,352
Totals
130
$14,365
(a) Compute the ending...
Flint Corporation sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating...
Flint Corporation sells a snowboard, EZslide, that is popular
with snowboard enthusiasts. Below is information relating to Flint
Corporation’s purchases of EZslide snowboards during September.
During the same month, 95 EZslide snowboards were sold. Flint
Corporation uses a periodic inventory system.
Date
Explanation
Units
Unit Cost
Total Cost
Sept. 1
Inventory
13
$102
$ 1,326
Sept. 12
Purchases
46
105
4,830
Sept. 19
Purchases
47
106
4,982
Sept. 26
Purchases
20
107
2,140
Totals
126
$13,278
(a) Compute the ending...
Pharoah Company sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating...
Pharoah Company sells a snowboard, EZslide, that is popular
with snowboard enthusiasts. Below is information relating to
Pharoah Company’s purchases of EZslide snowboards during September.
During the same month, 106 EZslide snowboards were sold.
Date
Explanation
Units
Unit Cost
Total Cost
Sept. 1
Inventory
14
$120
$1,680
Sept. 12
Purchases
44
123
5,412
Sept. 19
Purchases
55
124
6,820
Sept. 26
Purchases
25
125
3,125
Totals
138
$17,037
Additional data regarding the company’s sales of EZslide snowboards
are provided below....
Sheffield Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating...
Sheffield Corp. sells a snowboard, EZslide, that is popular with
snowboard enthusiasts. Below is information relating to Sheffield
Corp.’s purchases of EZslide snowboards during September. During
the same month, 100 EZslide snowboards were sold. Sheffield Corp.
uses a periodic inventory system.
Date
Explanation
Units
Unit Cost
Total Cost
Sept. 1
Inventory
10
$100
$ 1,000
Sept. 12
Purchases
45
103
4,635
Sept. 19
Purchases
50
104
5,200
Sept. 26
Purchases
20
105
2,100
Totals
125
$12,935
(a) Compute the ending...
Pharoah Company sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating...
Pharoah Company sells a snowboard, EZslide, that is popular
with snowboard enthusiasts. Below is information relating to
Pharoah Company’s purchases of EZslide snowboards during September.
During the same month, 106 EZslide snowboards were sold.
Date
Explanation
Units
Unit Cost
Total Cost
Sept. 1
Inventory
14
$120
$1,680
Sept. 12
Purchases
44
123
5,412
Sept. 19
Purchases
55
124
6,820
Sept. 26
Purchases
25
125
3,125
Totals
138
$17,037
Additional data regarding the company’s sales of EZslide snowboards
are provided below....
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