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North Hills, Inc. sells an Xpert snowshoe that is popular with snowshoe enthusiasts. The following information shows North Hills's purchases and sales of Xpert
North Hills, Inc. sells an Xpert snowshoe that is popular with snowshoe enthusiasts. The following information shows North Hills's purchases and sales of Xpert snowshoes during November: Unit Date Explanation Units Unit Sales Cost/Price Price Nov. 1 Beginning inventory 35 $297 5 Purchases 22 302 12 Sales (38) 464 19 Purchases 42 307 22 Sales (49) 475 25 Purchases 32 312 44 (a) Determine the cost of goods sold and ending inventory using (1) FIFO and (2) average cost, assuming North Hills 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, e.g. 15.25. Do not round intermediate calculations.) FIFO Average Cost Cost of goods sold $ $ Ending inventory $ LA
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