Exercise 6-15 (Part Level Submission) Powder, Inc. sells an Xpert snowboard that

Question

Exercise 6-15 (Part Level Submission) Powder, Inc. sells an Xpert snowboard that is popular with snowboards enthusiasts. The following information shows Powder's purchases and sales of Xpert snowboards during November Unit Units Cost Unit Sales Price Date Transaction November 1 Begi inning inventory 33 $298 5 Purchases 12 Sales 19 Purchases 22 Sales 25 Purchases 21 303 41 309 30 310 $472 470 40 Determine the cost of goods sold and ending inventory using (1) FIFO and (2) average cost, assuming Powder uses a periodic inventory system. (Round answers to o decimal places, e.g. 5,275.) FIFO Average Cost of goods sold Ending inventory

Explanation / Answer

Answer:-

Explanation:-a)-

b)-

Particulars FIFO Average $ $ Cost of goods sold 25751 25782 Ending Inventory 12390 12360

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