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. The
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 28 Unit Cost $53 Mar. 3 Purchase 73 $ 58 Mar. 6 Purchase Mar. 17 Sale Mar. 23 Purchase Mar. 31 Sale 123 $ 63 68 76 166 $63 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 Ending Inventory Cost of Goods Sold
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