Project #23841 - Financiall Accounting

 

 

 

 

 

 

Information about Snoslope is presented in the above. Additional data regarding the

 

company’s sales of Xpert snowboards are provided below. Assume that Snoslope uses a

 

perpetual inventory system.

 

Date Units

 

Sept. 5 Sale 8

 

Sept. 16 Sale 48

 

Sept. 29 Sale 62

 

Totals 118

 

Instructions

 

(a) Compute ending inventory at September 30 using FIFO, LIFO, and average cost.

 

(Note: For average cost, round unit cost to three decimal places.)

 

 

 

(b) Compare ending inventory for FIFO and LIFO using a perpetual inventory system to

 

ending inventory using a periodic inventory system (from above).

 

 

 

(c) Which inventory cost flow method (FIFO, LIFO) gives the same ending inventory

 

value under both periodic and perpetual? Which method gives different ending inventory

 

values?

 

Subject Mathematics
Due By (Pacific Time) 02/26/2014 11:45 pm
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