Problem 6 - 7 A Gross profit comparisons and cost flow assumptions - perpetual LO 2 ,
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Problem A Gross profit comparisons and cost flow assumptionsperpetual LO
Ontario Skateboard Company has the following inventory and purchases during the fiscal year ended December
Ontario Skateboard Company employs a perpetual inventory system.
Required:
Calculate the dollar value of ending inventory and cost of goods sold using: Do not round intermediate calculations. Round the
final answers to decimal places. Round all weighted average unit costs to two decimal places.
Using your calculations from Part complete the following schedule: Do not round intermediate calculations. Round the final
answers to decimal places. Round all weighted average unit costs to two decimal places.
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