Solution-Compare ending inventory using a perpetual

Compare ending inventory using a perpetual inventory system

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Reference no: EM131772453

Elsa's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Elsa's purchases and sales of Xpert snowboards during September is shown below. During the same month, 208 Xpert snowboards were sold. Additional data regarding Elsa's sales of Xpert snowboards are provided below. Elsa's uses a perpetual inventory system.

Date	Explanation	Units		Unit Cost	Total Cost
Sept. 1	Inventory	45	$101	mce_markernbsp;4,545
Sept. 12	Purchases	77	104	8,008
Sept. 19	Purchases	34	109	3,706
Sept. 26	Purchases	86	114	9,804
Totals	242	$26,063

Date

Units

Unit Price

Total Revenue

Sept. 5 Sale 21

$195

$4,095

Sept. 16 Sale 86

195

16,770

Sept. 29 Sale 101

210

21,210

Totals 208

$42,075

Calculate moving average cost at Sept 1, 5, 12, 16, 19, 26 & 29.

Compute ending inventory at September 30 using FIFO, LIFO, and moving-average cost.

Compare ending inventory using a perpetual inventory system to ending inventory using a periodic inventory system.

Reference no: EM131772453

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Compare ending inventory using a perpetual inventory system

Reference no: EM131772453

Reference no: EM131772453

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