Wildhorse Snowboards sells an ultra-lightweight snowboard that is considered to be one of the best on the market. Information follows for Wildhorse's purchases and sales of the ultra-lightweight snowboard in October: Date Oct. 1 10 12 13 25 27 Transaction Beginning inventory Purchase Sale Purchase Sale Purchase Units 25 30 (42) 35 (45) 20 Unit Purchase Price Unit Sales Price $297 304 312 319 $469 479
Wildhorse Snowboards sells an ultra-lightweight snowboard that is considered to be one of the best on the market. Information follows for Wildhorse's purchases and sales of the ultra-lightweight snowboard in October: Date Oct. 1 10 12 13 25 27 Transaction Beginning inventory Purchase Sale Purchase Sale Purchase Units 25 30 (42) 35 (45) 20 Unit Purchase Price Unit Sales Price $297 304 312 319 $469 479
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Calculate the cost of goods sold and the ending inventory using FIFO and weighted average, assuming Wildhorse uses a perpetual
inventory system. (Round the weighted average cost per unit and final answers to 2 decimal places, e.g. 5,265.25.)
Ending inventory
Cost of goods sold
$
$
FIFO
$
$
Weighted Average](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F693722da-e1d4-4e62-b7fc-ad8c051adb29%2F927c9047-a4ea-4f71-8f28-2f478da465d7%2F78zbqz2p_processed.png&w=3840&q=75)
Transcribed Image Text:Calculate the cost of goods sold and the ending inventory using FIFO and weighted average, assuming Wildhorse uses a perpetual
inventory system. (Round the weighted average cost per unit and final answers to 2 decimal places, e.g. 5,265.25.)
Ending inventory
Cost of goods sold
$
$
FIFO
$
$
Weighted Average
![Wildhorse Snowboards sells an ultra-lightweight snowboard that is considered to be one of the best on the market. Information
follows for Wildhorse's purchases and sales of the ultra-lightweight snowboard in October:
Date
Oct. 1
10
12
13
25
27
Transaction
Beginning inventory
Purchase
Sale
Purchase
Sale
Purchase
Units
25
30
(42)
35
(45)
20
Unit Purchase Price
$297
304
312
319
Unit Sales Price
$469
479](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F693722da-e1d4-4e62-b7fc-ad8c051adb29%2F927c9047-a4ea-4f71-8f28-2f478da465d7%2Fmohszpb_processed.png&w=3840&q=75)
Transcribed Image Text:Wildhorse Snowboards sells an ultra-lightweight snowboard that is considered to be one of the best on the market. Information
follows for Wildhorse's purchases and sales of the ultra-lightweight snowboard in October:
Date
Oct. 1
10
12
13
25
27
Transaction
Beginning inventory
Purchase
Sale
Purchase
Sale
Purchase
Units
25
30
(42)
35
(45)
20
Unit Purchase Price
$297
304
312
319
Unit Sales Price
$469
479
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