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 Mar. 1 Beginning Inventory Mar. 3 Purchase Mar. Mar. 17 Sale 6 Purchase Mar. 23 Purchase Mar. 31 Sale Units 35 80 130 75 90 180 Unit Cost $60 $65 $70 $70 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.)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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
Mar. 1 Beginning Inventory
Mar. 3 Purchase
Mar. 6 Purchase
Mar. 17 Sale
Mar. 23 Purchase
Mar. 31 Sale
Units
35
80
130
75
90
180
1. FIFO
2. Moving weighted average
Unit Cost
$ 60
$65
$ 70
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.)
Cost of Goods
Sold
$70
Ending
Inventory
I
Transcribed Image Text: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 Mar. 1 Beginning Inventory Mar. 3 Purchase Mar. 6 Purchase Mar. 17 Sale Mar. 23 Purchase Mar. 31 Sale Units 35 80 130 75 90 180 1. FIFO 2. Moving weighted average Unit Cost $ 60 $65 $ 70 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.) Cost of Goods Sold $70 Ending Inventory I
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