Question
Ontario Skateboard Company has the following inventory and purchases during the fiscal year ended December 31, 2023. Beginning Inventory 310 units @ $ 83/unit March
Ontario Skateboard Company has the following inventory and purchases during the fiscal year ended December 31, 2023.
Beginning Inventory 310 units @ $ 83/unit
March 10 purchased 212 units @ $ 85/unit
March 20 sold 360 units @ $ 173/unit
May 13 purchased 274 units @ $ 80/unit
August 5 purchased 265 units @ $ 69/unit
September 10 sold 567 units @ $ 173/unit
Ontario Skateboard Company employs a perpetual inventory system.
Required: 1. Calculate the dollar value of ending inventory and cost of goods sold sing FIFO and weighted avg
Using your calculations from Part 1, complete the following schedule: Sales,COGS,GROSS PROFIT IN FIFO AND WEIGHTED AVG
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