33:010:272 Lecture 6: Chapter 6 In Class(1)
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25 Aug 2016
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Related Questions
Delmott sells a snowboard, Xpert that is popular with snowboard enthusiasts. Below is information related to Delmott's purchase of Xpert snowboards during September. Durin the same month 102 Xpert snowboards were sold. Delmott uses a periodic inventory system.
Date | Explanation | Units | Unit Cost | Total Cost |
Sep. 1 | Inventory | 16 | $114 | $1,824 |
Sep. 12 | Purchases | 42 | 119 | 4,998 |
Sep. 19 | Purchases | 51 | 122 | 6,222 |
Sep. 26 | Purchases | 19 | 126 | 2,394 |
Totals | 128 | $15,438 |
Compute the ending inventory at september 30 using the fifo, lifo and average-cost methods.