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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 during
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 Units Cost Feb. 1 Beginning inventory 31 $297 22 302 Unit Sales Price Date Explanation 8 Purchases 15 Sales 19 Purchases 22 Sale:s 25 Purchases (41) $476 43 307 (47) 487 33 312 41 Your answer is incorrect. 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 the nearest whole dollar, e.g. 5,275 and Average cost answers to 2 decimal places, eg. 15.25.) FIFO Average Cost of goods sold $ Ending inventory $
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