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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
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 10 purchased March 20 sold May 13 purchased August 5 purchased September 10 sold 295 units Ps 82/unit 197 units @ $ 85/unit 341 units $160/unit 302 units es 10/unit 283 units @ $ 69/unit ses units 5160/unit Ontario Skateboard Company employs a perpetual inventory system Required: 1. Calculate the collar 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.) India inventary Cost of Good Solid #FIFO 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.) ving Wanted Sales Cost of goods sold Gross profit
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