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Waaaave Inc. sells an surfboard that is popular with enthusiasts. The following information shows Waaaave's purchases and sales of surfboards during November: Date Nov. 1
Waaaave Inc. sells an surfboard that is popular with enthusiasts. The following information shows Waaaave's purchases and sales of surfboards during November: Date Nov. 1 5 12 19 22 25 Explanation Beginning inventory Purchases Sales Purchases Sales Purchases Units 30 25 (42) 40 - (50) 303 Unit Cost/Price $295 300 460 305 470 10 Determine the cost of goods sold and ending inventory using (1) FIFO and (2) average cost.
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