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Mountain Country, Inc. sells an Xpert skateboard that is popular with skateboard enthusiasts. The following information shows Mountain Country's purchases and sales of Xpert skateboards
Mountain Country, Inc. sells an Xpert skateboard that is popular with skateboard enthusiasts. The following information shows Mountain Country's purchases and sales of Xpert skateboards during February: Unit Sales Price Unit Units Cost Feb. 1 Beginning inventory 31 $297 22 302 Date Explanation 8 Purchases 15 Sales 19 Purchases 22 Sales 25 Purchases (41) $476 43 307 (47) 487 33 312 Screen Shot 2018-11-13 at 3.21.13 PM FI Determine the cost of goods sold and ending inventory using (1) FIFO and (2) average cost, assuming Mountain Country uses a periodic inventory system. (Round FIFO answers to the nearest whole dollar, eg. 5,275 and Average cost answers to 2 decimal places, eg. 15.25.) FIF0 Average Cost of goods sold $ Ending inventory $
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