Question: 2 - FIFO and Weighted Average (30 marks) Bennett Basketball sells a variety of basketballs and accessories. Information follows for Bennett Basketball's purchases and sales
2 - FIFO and Weighted Average (30 marks) Bennett Basketball sells a variety of basketballs and accessories. Information follows for Bennett Basketball's purchases and sales during February and March for Up-Snap, one of its top brands of basketballs: Purchases Purchases Sales Units {:[" Unit "],[" Cost "]:} {:[" Units "],[" Price "]:} Feb. 7 18 $32 23 50 $20 26 30 Mar. 10 24 19 32 29 23 32 Bennett uses a perpetual inventory system. On February 1, Bennett had 36 units on hand at a cost of $21 each. All purchases and sales during February and March were on account. Instructions: (a) Determine the cost of goods sold and
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