Question

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 Mather uses a perpetual inventory system.

Date				Units
Sept. 5		Sale		8
Sept. 16		Sale		48
Sept. 29		Sale		46
		Totals		102

Incorrect answer iconYour answer is incorrect.

Calculate the average unit cost. (Round answers to 3 decimal places, e.g. 5.125.)

September 1		$enter a dollar amount
September 5		$enter a dollar amount
September 12		$enter a dollar amount
September 16		$enter a dollar amount
September 19		$enter a dollar amount
September 26		$enter a dollar amount
September 29		$enter a dollar amount

Compute ending inventory at September 30 using FIFO, LIFO, and moving-average. (Round answers to 0 decimal places, e.g. 125.)

		FIFO		LIFO		AVERAGE-COST
The ending inventory		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount

Answer 1