Exercise 6-04 Sage Hill Inc, sells a snowboard, EZ slide, that is popular with snowboard...
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Exercise 6-04 Sage Hill Inc, sells a snowboard, EZ slide, that is popular with snowboard enthusiasts. Below is Information relating to Sage Hill Inc.'s purchases of EZslide snowboards during September. During the same month, 100 EZslide snowboards were sold. Sage Hill Inc. uses a periodic inventory system. Unit Cost $110 Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 113 Explanation Inventory Purchases Purchases Purchases Totals Units 15 48 53 24 140 Total Cost $1,650 5,424 6,042 2,760 $15.376 114 115 (a) Compute the ending inventory at September 30 using the FIFO, LIFO and average cost methods. (Round average cost per unit to 3 decimal places, .0. 125.153 and Final answers to decimal places, e.g. 125.) FIFO LIFO AVERAGE COST The ending Inventory at September 30 $ $ $ (b) Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per un to decimal places. 125.753 and a answers to O decimal places,.. 125.) FIFO LIFO AVERAGE-COST Cost of goods sold
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