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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, 196 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 Units Unit Cost Total Cost
Sept. 1 Inventory  42 101 4242
Sept. 12 Purchases 73 103 7519
Sept. 19 Purchases 32 106 3392
Sept. 26 Purchases 81 111 8991
  Totals 228   24144
         
Date   Units   Unit Price Total Revenue
Sept. 5 Sale 19 193 3667
Sept. 16 Sale 81 193 15633
Sept. 29 Sale 96 207 19872
  Totals 196   39172

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

Accounting Basics, Accounting

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