Exercise 6-4 Alternative cost flow assumptions-perpetual inventory system LO2 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 Mar. 3 Purchase Mar. Mar. 17 Sale Mar. 23 Purchase Mar. 31 Sale 6 Purchase Units 17 62 112 57 54 144 Unit Cost $ 42 $ 47 $ 52 $ 52

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Exercise 6-4 Alternative cost flow assumptions-perpetual inventory system LO2
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
Mar. 3 Purchase
Mar. 6 Purchase
Mar. 17 Sale
Mar. 23 Purchase
Mar. 31 Sale
Units
17
62
112
1. FIFO
2. Moving weighted average
57
54
144
Unit Cost
$ 42
$ 47
$ 52
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
$ 52
Ending
Inventory
Transcribed Image Text:Exercise 6-4 Alternative cost flow assumptions-perpetual inventory system LO2 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 Mar. 3 Purchase Mar. 6 Purchase Mar. 17 Sale Mar. 23 Purchase Mar. 31 Sale Units 17 62 112 1. FIFO 2. Moving weighted average 57 54 144 Unit Cost $ 42 $ 47 $ 52 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 $ 52 Ending Inventory
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