Please do not give solution in image format thanku Exercise 6-4 Alternative cost flow assumptions-perpetual inventory system LO2Sport Box sells a wide variety of sporting equipment. The following is information on the purchases and sales of their top sellinghockey stick. The hockey stick sells for $130.DescriptionMar. 1 Beginning InventoryMar. 3 PurchaseMar. 6 PurchaseMar. 17 SaleMar. 23 PurchaseMar. 31 SaleUnits17621121. FIFO2. Moving weighted average5754144Unit Cost$ 42$ 47$ 52Required:Calculate the cost of goods sold and ending inventory under the perpetual inventory system using the following methods. (Do notround your "Unit Cost" answers. Round all other intermediate and final answers to nearest whole dollar.)Cost of GoodsSold$ 52EndingInventory

FIFO stands for First in first out. The unit cost is calculated as totalc ost divided by the number…

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

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

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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