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 19 64 114 1. FIFO 2. Moving weighted average 59 58 148 Unit Cost $44 $49 $54 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 $54 Ending Inventory

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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
Mar. 3 Purchase
Mar. 6 Purchase
Mar. 17 Sale
Mar. 23 Purchase
Mar. 31 Sale
1. FIFO
Units.
19
64
114
59
58
148
2. Moving weighted average
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.)
Unit Cost
$44
$49
$54
Cost of Goods
Sold
$54
Ending
Inventory
< Prev
www
2 of 8 ---
Nex
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 Mar. 3 Purchase Mar. 6 Purchase Mar. 17 Sale Mar. 23 Purchase Mar. 31 Sale 1. FIFO Units. 19 64 114 59 58 148 2. Moving weighted average 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.) Unit Cost $44 $49 $54 Cost of Goods Sold $54 Ending Inventory < Prev www 2 of 8 --- Nex
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