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fill in the blanks Problem 6-7A Gross profit comparisons and cost flow assumptions-perpetual LO2, 3 Ontario Skateboard Company has the following inventory and purchases during
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Problem 6-7A Gross profit comparisons and cost flow assumptions-perpetual LO2, 3 Ontario Skateboard Company has the following inventory and purchases during the fiscal year ended December 31, 2020. Beginning Inventory March 10 purchased March 20 sold May 13 purchased August 5 purchased September 1e sold 271 units @$ 79/unit 227 units @$ 80/unit 364 units $148/unit 385 units @$ 76/unit 237 units @$ 71/unit 536 units @$148/unit Ontario Skateboard Company employs a perpetual inventory system. Required: 1. Calculate the dollar value of ending inventory and cost of goods sold using: (Do not round intermediate calculations. Round the final answers to 2 decimal places. Round welghted average all unit costs to two decimal places.) Ending Inventory Cost of Goods Sold a FIFO b. Moving weighted average * dy w 2. Using your calculations from Part 1, complete the following schedule: (Do not round Intermediate calculations. Round the final answers to 2 decimal places. Round welghted average all unit costs to two decimal places.) FO Maving Wolghida Average Sales Cast of goods sold Gross profit dty . a MacBook Pro 80 83 DOO DDD F4 13 FS F6 F7 F8 59 F10 Step by Step Solution
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