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 | Units | Unit Cost | |||||||
| Mar. | 1 | Beginning Inventory | 33 | $ | 58 | ||||
| Mar. | 3 | Purchase | 78 | $ | 63 | ||||
| Mar. | 6 | Purchase | 128 | $ | 68 | ||||
| Mar. | 17 | Sale | 73 | ||||||
| Mar. | 23 | Purchase | 86 | $ | 68 | ||||
| Mar. | 31 | Sale | 176 | ||||||
| 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.)
Ending Inventory Cost of Goods Sold 1.FIFO | |||||||||
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Cost Accounting A Managerial Emphasis International
Authors: Charles T. Horngren, Srikant M. Datar, George Foster
11th Edition
8120323548, 978-8120323544
