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 17 $ 42

Mar. 3 Purchase 62 $ 47

Mar. 6 Purchase 112 $ 52

Mar. 17 Sale 57

Mar. 23 Purchase 54 $ 52

Mar. 31 Sale 144

Required:

Calculate the cost of goods sold and ending inventory under the perpetual inventory system using the following methods. (Do not round your "Unit Cost" answers. Round all other intermediate and final answers to nearest whole dollar.)

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 17 $ 42

Mar. 3 Purchase 62 $ 47

Mar. 6 Purchase 112 $ 52

Mar. 17 Sale 57

Mar. 23 Purchase 54 $ 52

Mar. 31 Sale 144

Required:

Calculate the cost of goods sold and ending inventory under the perpetual inventory system using the following methods. (Do not round your "Unit Cost" answers. Round all other intermediate and final answers to nearest whole

Answer 1

Note: Since the question does not specified the method to prepare, i am answering these question with these three methods

1. FIFO

2. LIFO

3. Weighted Average

if there are any other method that requires to be answered please specify in the comment section , ill Provide you the answer

1.

Cost of Goods sold = $9972

Ending inventory = $2288

2.

Cost of Goods sold = $10,277

Ending inventory = $1,983

3.

Cost of Goods sold = $10,051

Ending inventory = $2,209