alternative cost flow assumption perpetual inventory system.

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

calculate the cost of goods sold and ending inventory under the perpetual inventory system using .

1. FIFO
2. moving weighted average.