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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
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 November: Unit Date Explanation Units Cost/Price Nov. 1 Beginning inventory 34 $299 5 Purchases 24 304 12 Sales (42) 467 19 Purchases 43 309 22 Sales (49) 519 25 Purchases 35 314 45 (a) Determine the cost of goods sold and ending inventory using (1) FIFO and (2) average cost, assuming Mountain Country uses a perpetual inventory system. (Round FIFO answers to O decimal places, e.g. 5,275 and Average cost answers to 2 decimal places, e.g. 5,275.25. Do not round intermediate calculations.) Cost of goods sold $ Ending inventory $ FIFO Average Cost $ $
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