Sport Box sells a wide variety of sporting equipment. The following is information on the puro hockey stick. The hockey stick sells for $130. Description Units Unit Cost Mar. 1 Beginning Inventory Mar. 3 Purchase $ 52 $ 57 $ 62 27 72 Mar. 6 Purchase 122 67 74 Mar. 17 Sale Mar. 23 Purchase $ 62 Mar. 31 Sale 164 Required: Calculate the cost of goods sold and ending inventory under the perpetual inventory system round your "Unit Cost" answers. Round all other intermediate and final answers to neares Ending Inventory Cost of Goods Sold 1. FIFO 2. Moving weighted average
Sport Box sells a wide variety of sporting equipment. The following is information on the puro hockey stick. The hockey stick sells for $130. Description Units Unit Cost Mar. 1 Beginning Inventory Mar. 3 Purchase $ 52 $ 57 $ 62 27 72 Mar. 6 Purchase 122 67 74 Mar. 17 Sale Mar. 23 Purchase $ 62 Mar. 31 Sale 164 Required: Calculate the cost of goods sold and ending inventory under the perpetual inventory system round your "Unit Cost" answers. Round all other intermediate and final answers to neares Ending Inventory Cost of Goods Sold 1. FIFO 2. Moving weighted average
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
1 Beginning Inventory
3 Purchase
6 Purchase
Units
Unit Cost
$ 52
$ 57
$ 62
Mar.
27
Mar.
72
Mar.
122
Mar. 17 Sale
67
Mar. 23 Purchase
74
$ 62
Mar. 31 Sale
164
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.)
Ending
Inventory
Cost of Goods
Sold
1. FIFO
2. Moving weighted average
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