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Sarasota Skateshop Ltd. reports the following inventory transactions for its skateboards for the month of April. The company uses the perpetual inventory system. Unit
Sarasota Skateshop Ltd. reports the following inventory transactions for its skateboards for the month of April. The company uses the perpetual inventory system. Unit Date Explanation Units Cost/Price Total Cost Apr. 1 Beginning inventory 30 $54 $1,620 6 Purchases 15 48 720 9 Sales (35) 80 14 Purchases 20 Sales 28 Purchases 22 20 43 860 (25) 80 20 35 700 (a) Determine the cost of goods sold and cost of ending inventory using average cost. (Round answers to 2 decimal places, e.g. 1.25.) Cost of Goods Sold Cost of Ending Inventory $
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