Question
Sport Box sells a wide variety of sporting equipment. The following is information on the purchases and sales of their top selling hockey stick.
Sport Box sells a wide variety of sporting equipment. The following is information on the purchases and sales of their top selling hockey stick. The hockey stick sells for $130. Description Mar. 1 Beginning Inventory Units 34 Unit Cost $ 59 Mar. 3 Purchase 79 $ 64 Mar. 6 Purchase Mar. 17 Sale- Mar. 23 Purchase Mar. 31 Sale 129 $ 69 74 88 $ 69 178 Required: Calculate the cost of goods sold and ending inventory under the perpetual inventory system using the following methods. (Do not round your "Unit Cost" answers. Round all other intermediate and final answers to nearest whole dollar.) 1. FIFO 2. Moving weighted average Cost of Goods Sold Ending Inventory
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