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
Mar. 1	Beginning Inventory	24	$49
Mar. 3	Purchase	69	$54
Mar. 6	Purchase	119	$59
Mar. 17	Sale	64
Mar. 23	Purchase	68	$59
Mar. 31	Sale	158

Answer 1

Sport Box - FIFO perpetual) Cost of goods available for sale COGS No. of units cost p.u Cost of goods available for sale No. of units cost p.u 24 49 1176 69 54 3726 COGS Date beg. Inv. Purchases No. of units 24 Purchases 119 69 24 59 7021 69 Ending Inventory cost p.u Ending inventory 1176 1176 3726 1176 3726 7021 1566 7021 1566 59 7021 59 4012 Sales 24 40 49 54 1176 2160 119 29 119 Purchases 68 59 4012 29 119 68 Sales T 29 119 10 222 54 59 59 1566 7021 590 12513 58 58 59 3422 3422 280 15935 69 Date beg. Inv. Purchases Purchases Sales Purchases Sales Moving averagel perpetual) Cost of goods available for sale COGS Ending Inventory No. of units cost p.u Cost of goods available for sale No. of units cost p.u COGS No. of units cost p.u Ending inventory 24 49 1176 24 49 1176 54 3726 93 52.70967742 4902 119 59 7021 212 56.24056604 11923 64 56.24056604 3599.396226 148 56.24056604 8 323.603774 68 59 4012 216 57.10927673 12335.60377 158 57.10927673 9023.265723 58 57.10927673 3 312.33805 280 1 5935 222 12622.66195 58 3312.33805 Since only data was given but the question was missing, therefore, it has been solved for FIFO and moving average under perpetual method.