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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 ended

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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 ended December 31, 2020. Beginning Inventory 271 units @$ 81/unit March purchased 204 units @$ 85/unit March 20 sold 379 units @$174/unit May 13 purchased 288 units @$ 77/unit August purchased 237 units @$ 67/unit September 10 sold 469 units @$174/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 $ 10, 117.00 $ 147,552.00 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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