Question: Problem 6 - 7 A Gross profit comparisons and cost flow assumptions - perpetual LO 2 , 3 Ontario Skateboard Company has the following inventory
Problem A Gross profit comparisons and cost flow assumptionsperpetual LO
Ontario Skateboard Company has the following inventory and purchases during the fiscal year ended December
tableBeginning Inventory, units @$unitMarch purchased, units @$ unitMarch sold, units @$unitMay purchased, units $$ unitAugust purchased, units @$unitSeptember sold, units @$unit
Ontario Skateboard Company employs a perpetual inventory system.
Required:
Calculate the dollar value of ending inventory and cost of goods sold using: Do not round intermediate calculations. Round the final answers to decimal places. Round all weighted average unit costs to two decimal places.
Using your calculations from Part compelete the following schedule.
sales
cost of good sold
gross profit
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