What do you notice about the answers you found

Reference no: EM133654989

Current Attempt in Progress

Kingbird sells a snowboard, WhiteOut, that is popular with snowboard enthusiasts. Presented below is information relating to Kingbird's purchases of WhiteOut snowboards during September. During the same month, 119 WhiteOut snowboards were sold at $173 each. Kingbird uses a periodic inventory system.

Date Explanation Units Unit Cost Total CostSept. 1 Inventory 25 $99 $2,475Sept. 12 Purchases 41 105 4,305Sept. 19 Purchases 26 109 2,834Sept. 26 Purchases 51 112 5,712 Totals 143 $15,326

(a) For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold. What do you notice about the answers you found for each method?

Reference no: EM133654989

Questions Cloud

What is the budgeted operating income for next year : Next year, the company expects to charge out 12,000 hours of private sailing lessons. What is the budgeted operating income for next year

How many units were transferred out during june : units started into production, and 530 units in ending Work in Process Inventory that are 20% completed. How many units were transferred out during June

What is the companys net income using fifo : Assuming that a periodic inventory system is used and operating expenses of $2088, what is the company's net income using FIFO

Under the administrative presumption of coverage : What assumption is made, under the administrative presumption of coverage, when a beneficiary is correctly assigned to one of the designated, case-mix

What do you notice about the answers you found : For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold. What do you notice about the answers you found for each method

Explain how the desire for increased workplace flexibility : Explain how the desire for increased workplace flexibility, employee empowerment and labor-management partnerships, can threaten traditional US labor relation.

What additional information would be useful in your analysis : What additional information would be useful in your analysis - The proposal also states that labor-hour requirements per unit are expected to remain relatively

Which does the best exemplify : After searching for a desk that moves up and down so she can alternate between sitting and standing. With regard to office mart, which does this best exemplify?

What percentage of newtech would be controlled : What percentage of NewTech (fully diluted) would be controlled by Hagadorn Venture Capital following the Series B investment

User Account

All Pages