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    browneyedbeeyot's Avatar
    browneyedbeeyot Posts: 1, Reputation: 1
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    #1

    Oct 7, 2009, 09:36 AM
    Calculating fifo, lifo, and average cost
    Boarders sells a snowboard Xpert, that is popular with snowboard enthusiasts. Below is information relating to Boarder's purchases of Xpert snowboards during September. During the same month, 121 Xpert snowboards were sold.
    Date Explanation Units Unit Cost Total Cost
    Sept 1 Inventory 25 $ 100 $2,500
    Sept 12 Purchases 43 104 4,472
    Sept 19 Purchases 20 106 2,120
    Sept 26 Purchases 50 111 5,550

    Totals 138 $14,642



    Additional data regarding Boarders’ sales of Xpert snowboards are provided below. Assume that Boarders uses a perpetual inventory system.

    Date
    Units Unit Price Total Cost
    Sept 5 Sale 11 $199 $2,189
    16 Sale 51 199 10,149
    29 Sale 59
    209 12,331

    Totals 121
    $24,669


    CALCULATE FIFO, LIFO, AND AVERAGE COST FOR THIS.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Oct 9, 2009, 11:46 AM

    Please see the guidelines for posting homework problems:
    Ask Me Help Desk - Announcements in Forum : Homework Help

    You need to show us at least some attempt to do your own work.
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