Question: Head Smart sells bicycle helmets for $130 in a large mall. Head Smart uses a perpetual inventory system and made purchases and sales in July


Head Smart sells bicycle helmets for $130 in a large mall. Head Smart uses a perpetual inventory system and made purchases and sales in July as follows: $ 46 $ 51 $ 56 July 1 Beginning Inventory July 3 Purchase July 6 Purchase July 17 Sale July 23 Purchase July 31 Sale 21 units 66 units 116 units 61 units 62 units 152 units $ 56 Head Smart sells bicycle helmets for $130 in a large mall. Head Smart uses a perpetual inventory system and made purchases and sales in July as follows: $ 46 $ 51 $ 56 July 1 Beginning Inventory July 3 Purchase July 6 Purchase July 17 Sale July 23 Purchase July 31 Sale 21 units 66 units 116 units 61 units 62 units 152 units $ 56 3. Determine the share of the cost of goods available for sale calculated in Part 1 that should be assigned to ending inventory and to goods sold under: (Do not round your "Unit Cost" answers. Round all other intermediate and final answers to nearest whole dollar.) Ending Inventory Cost of Goods Sold a FIFO b. Moving weighted average
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