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e hockey stick sells for $130. Description ning Inventory mase Units 16 61 Ur

e hockey stick sells for $130. Description ning Inventory mase Units 16 61 Ur

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sport Box sells a wide variety of sporting equipment. The following is information on the purchases and sales of their top selling hockey stick. The hockey stick sells for $130. Description Mar. 1 Beginning Inventory 3 Purchase Mar. Mar. 6 Purchase Mar. 17 Sale Mar. 23 Purchase Mar. 31 Sale Units. 16 61 111 56 52 142 1. FIFO 2. Moving weighted average L Unit Cost $41 $ 46 $51 Required: Calculate the cost of goods sold and ending inventory under the perpetual inventory system using the following methods. (Do not round your "Unit Cost" answers. Round all other intermediate and final answers to nearest whole dollar.) Cost of Goods Sold $ 51 Ending Inventory
Transcribed Image Text:Sport Box sells a wide variety of sporting equipment. The following is information on the purchases and sales of their top selling hockey stick. The hockey stick sells for $130. Description Mar. 1 Beginning Inventory 3 Purchase Mar. Mar. 6 Purchase Mar. 17 Sale Mar. 23 Purchase Mar. 31 Sale Units. 16 61 111 56 52 142 1. FIFO 2. Moving weighted average L Unit Cost $41 $ 46 $51 Required: Calculate the cost of goods sold and ending inventory under the perpetual inventory system using the following methods. (Do not round your "Unit Cost" answers. Round all other intermediate and final answers to nearest whole dollar.) Cost of Goods Sold $ 51 Ending Inventory
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