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Problem 6-7A Gross profit comparisons and cost flow assumptions-perpetual LO2, 3 Ontario Skateboard Company has the following inventory and purchases during the fiscal year
Problem 6-7A Gross profit comparisons and cost flow assumptions-perpetual LO2, 3 Ontario Skateboard Company has the following inventory and purchases during the fiscal year ended December 31, 2020. Beginning Inventory March March May 10 purchased 20 sold 13 August 5 purchased September 10 sold purchased 325 units @$ 85/unit 227 units @$ 87/unit 353 units @$165/unit 302 units @5 81/unit 260 units @$ 73/unit 514 units @$165/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 Sold a FIFO b. Moving weighted average cchodule: (Do not round intermediate calculations. Round the final
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