In: Accounting
Blue Spruce Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Blue Spruce Corp.’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 11 $98 $1,078 Sept. 12 Purchases 49 101 4,949 Sept. 19 Purchases 47 102 4,794 Sept. 26 Purchases 20 103 2,060 Totals 127 $12,881 Additional data regarding the company’s sales of EZslide snowboards are provided below. Assume that Blue Spruce Corp. uses a perpetual inventory system. Date Units Sept. 5 Sale 7 Sept. 16 Sale 50 Sept. 29 Sale 49 Totals 106