Sport Box sells a wide variety of sporting equipment. The following is information on the purchases and

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 hockey stick sells for $130.
Description Units Unit Cost $30 Mar. 1 Beginning Inventory Mar. 3 $35 Purchase Mar. 6 Purchase $40 100 Mar. 17 Sale 45 3

Description Units Unit Cost $30 Mar. 1 Beginning Inventory Mar. 3 $35 Purchase Mar. 6 Purchase $40 100 Mar. 17 Sale 45 3

Required
Calculate the cost of goods sold and ending inventory under the perpetual inventory system using
1. FIFO
2. Moving weighted average. Round all unit costs to two decimal places and round all other numbers to the nearest dollar.

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...