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Ontario Skateboard Company has the following inventory and purchases during the fiscal year ended December 31, 2020 Beginning Inventory March 10 purchased March 20 sold

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Ontario Skateboard Company has the following inventory and purchases during the fiscal year ended December 31, 2020 Beginning Inventory March 10 purchased March 20 sold 13 purchased August 5 purchased September 10 sold May 271 units @ $ 79/unit 227 units $ 80/unit 364 units @ $ 148/unit 305 units $ 76/unit 237 units @ $ 21/unit 536 units $ 148/unit 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.) Ending Inventory Cost of Goods So a FIFO b. Moving weighted average 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 Average Sales Cost of goods sold Gross profit

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