Bridgeports Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to...
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Accounting
Bridgeports Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Bridgeports purchases and sales of Xpert snowboards during September is shown below. During the same month, 224 Xpert snowboards were sold. Additional data regarding Bridgeports sales of Xpert snowboards are provided below. Assume that Bridgeports uses a perpetual inventory system.
Date
Explanation
Units
Unit Cost
Total Cost
Sept. 1
Inventory
48
$98
$ 4,704
Sept. 12
Purchases
83
104
8,632
Sept. 19
Purchases
37
107
3,959
Sept. 26
Purchases
93
114
10,602
Totals
261
$27,897
Date
Units
Unit Price
Total Revenue
Sept. 5
Sale
22
$199
$4,378
Sept. 16
Sale
93
199
18,507
Sept. 29
Sale
109
209
22,781
Totals
224
$45,666
How do you calculate moving average cost at Sept 1, 5, 12, 16, 19, 26 & 29. (Round answers to 2 decimal places, e.g. 1.25.)
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