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Ontario Skateboard Company has the following inventory and purchases during the fiscal year ended December 31, 2020. Beginning Inventory 10 purchased 20 sold March
Ontario Skateboard Company has the following inventory and purchases during the fiscal year ended December 31, 2020. Beginning Inventory 10 purchased 20 sold March March May 13 purchased August 5 purchased: September 10 sold 295 units @$ 85/unit 231 units @$ 88/unit 341 units @$156/unit 302 units @$ 81/unit 239 units @$ 71/unit 546 units @$156/unit es 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 weighted average all unit costs to two decimal places.) a. FIFO b. Moving weighted average Ending Inventory Cost of Goods Sold 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 weighted average all unit costs to two decimal places.) FIFO Moving Weighted
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