Question: Note I posted question before one hour but the answer not right please answer the question in correct way with tables: the subject is fininicial

Note I posted question before one hour but the answer not right please answer the question in correct way with tables: the subject is fininicial accounting

Q2 /

North Hills, Inc. sells an Xpert snowshoe that is popular with snowshoe enthusiasts. The following information shows North Hillss purchases and sales of Xpert snowshoes during January:

Date

Explanation

Units

Unit Cost

Unit Sales Price

Jan.

1

Beginning inventory

33

$299

7

Purchases

24

304

14

Sales

(38

)

$492

19

Purchases

44

309

22

Sales

(48

)

503

25

Purchases

34

314

49

(a)

Determine the cost of goods sold and ending inventory using (1) FIFO and (2) average cost, assuming North Hills uses a perpetual inventory system. (Round FIFO answers to the nearest whole dollar, e.g. 5,275 and Average cost answers to 2 decimal places, e.g. 15.25.)

FIFO

Average

Cost of goods sold

$

$

Ending inventory

$

$

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