Assume a Championship Sports outlet store began December with 44 pairs of water skis that cost the store $35 each. The sale price of these water skis was $60. During December, the store completed the below inventory transactions. View the inventory transactions. Read the requirements. Requirement 1. Which cost method does the store use? Explain how you arrived at your answer. Championship Sports uses which came from the This is apparent from the flow of costs out of inventory. For example, the December 13 sale shows unit cost of This is how works. Requirement 2. Determine the store's cost of goods sold for December. Also compute gross profit for December. First, find the cost of goods sold. Inventory Transactions December

Assume a Championship Sports outlet store began December with 44 pairs of water skis that cost the store $35 each. The sale price of these water skis was $60. During December, the store completed the below inventory transactions. View the inventory transactions. Read the requirements. Requirement 1. Which cost method does the store use? Explain how you arrived at your answer. Championship Sports uses which came from the This is apparent from the flow of costs out of inventory. For example, the December 13 sale shows unit cost of This is how [] works. Requirement 2. Determine the store's cost of goods sold for December. Also compute gross profit for December. First, find the cost of goods sold. Inventory Transactions Now, find the gross profit for December