REI sells snowboards. Assume the following information relates to REl's purchases of snowboards during September....
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REI sells snowboards. Assume the following information relates to REl's purchases of snowboards during September. During the same month, 100 snowboards were sold. REl uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 10 $100 $1,000 Sept. 12 Purchases 45 103 4,635 Sept. 19 Purchases 50 104 5,200 Sept. 26 Purchases 20 105 2,100 Totals 125 $12,935 Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to 0 decimal places, e.g. 125.)
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