Answer the following questions March Beginning Inventory March 10 purchased sold purchased purchased 20 13 May August

Answer the following questions

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March Beginning Inventory March 10 purchased sold purchased purchased 20 13 May August 5 September 10 sold Ontario Skateboard Company employs a perpetual inventory system. Required: 1. Calculate the dollar value of ending inventory and cost of goods sold using: (Do not round intermediate calculations. Round the final answers to 2 decimal places. Round all weighted average unit costs to two decimal places.) a. FIFO b. Moving weighted average Sales Cost of goods sold Gross profit 322 units @$ 91/unit 191 units @$ 92/unit 394 units @ $155/unit 260 units @$ 87/unit 263 units @ $ 82/unit 561 units @ $155/unit Ending Inventory Cost of Goods Sold 6,642.00 $ 6,946.73 $ $ $ 2. Using your calculations from Part 1, complete the following schedule: (Do not round intermediate calculations. Round the final answers to 2 decimal places. Round all weighted average unit costs to two decimal places.) FIFO 84,418.00 84,113.27 Moving Weighted Average March Beginning Inventory March 10 purchased sold purchased purchased 20 13 May August 5 September 10 sold Ontario Skateboard Company employs a perpetual inventory system. Required: 1. Calculate the dollar value of ending inventory and cost of goods sold using: (Do not round intermediate calculations. Round the final answers to 2 decimal places. Round all weighted average unit costs to two decimal places.) a. FIFO b. Moving weighted average Sales Cost of goods sold Gross profit 322 units @$ 91/unit 191 units @$ 92/unit 394 units @ $155/unit 260 units @$ 87/unit 263 units @ $ 82/unit 561 units @ $155/unit Ending Inventory Cost of Goods Sold 6,642.00 $ 6,946.73 $ $ $ 2. Using your calculations from Part 1, complete the following schedule: (Do not round intermediate calculations. Round the final answers to 2 decimal places. Round all weighted average unit costs to two decimal places.) FIFO 84,418.00 84,113.27 Moving Weighted Average

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Ontario Skateboard Company Inventory Valuation Inventory Transactions Date Description Units Unit Price Total Cost March 1 Beginning Inventory 0 0 Mar... View the full answer