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 $125. Description Units Unit Cost Mar. 1 Beginning Inventory 15 $ 40 Mar. 3 Purchase 60 $ 45 Mar. 6 Purchase 110 $ 50 Mar. 17 Sale 55 Mar. 23 Purchase 50 $ 50 Mar. 31 Sale 140 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.)
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 $125. Description Units Unit Cost Mar. 1 Beginning Inventory 15 $ 40 Mar. 3 Purchase 60 $ 45 Mar. 6 Purchase 110 $ 50 Mar. 17 Sale 55 Mar. 23 Purchase 50 $ 50 Mar. 31 Sale 140 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.)
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 3E: Beginning inventory, purchases, and sales data for portable game players are as follows: The...
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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 $125. Description Units Unit Cost Mar. 1 Beginning Inventory 15 $ 40 Mar. 3 Purchase 60 $ 45 Mar. 6 Purchase 110 $ 50 Mar. 17 Sale 55 Mar. 23 Purchase 50 $ 50 Mar. 31 Sale 140
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.)
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