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 22 67 117 62 64 154 1. FIFO 2. Moving weighted average Required: Calculate the cost of goods sold and ending inventory under the perpetual inventory system using the following methods. (Do no round your "Unit Cost" answers. Round all other intermediate and final answers to nearest whole dollar.) Unit Cost $ 47 $ 52 $.57 $57 Cost of Goods Sold Ending Inventory

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 22 67 117 62 64 154 1. FIFO 2. Moving weighted average Required: Calculate the cost of goods sold and ending inventory under the perpetual inventory system using the following methods. (Do no round your "Unit Cost" answers. Round all other intermediate and final answers to nearest whole dollar.) Unit Cost $ 47 $ 52 $.57 $57 Cost of Goods Sold Ending Inventory

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Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

Problem 3E: Beginning inventory, purchases, and sales data for portable game players are as follows: The...

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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 Units Unit Cost Mar. 1 Beginning Inventory 19 $ 44 Mar. 3 Purchase 64 $ 49 Mar. 6 Purchase 114 $ 54 Mar. 17 Sale 59 Mar. 23 Purchase 58 $ 54 Mar. 31 Sale 148 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 Mar. 1 Beginning Inventory Mar. 3 Purchase Mar. 6 Purchase Mar. 17 Sale Mar. 23 Purchase Mar. 31 Sale 1. FIFO Units. 19 64 114 59 58 148 2. Moving weighted average 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.) Unit Cost $44 $49 $54 Cost of Goods Sold $54 Ending Inventory < Prev www 2 of 8 --- Nex
Beginning inventory, purchases, and sales data for portable game players are as follows: Apr. Inventory 120 units at $26 Sale 90 units 10 Purchase 140 units at $28 15 Sale 110 units 20 Sale 24 40 units Purchase 160 units at $30 30 The business maintains a perpetual inventory system, costing by the first-in, first-out method. a. Determine the cost of the merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 3. b. Based upon the preceding data, would you expect the inventory to be higher or lower using the last-in, first-out method?
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 21 66 116 61 62 152 1. FIFO 2. Moving weighted average Unit Cost $ 46 $51 $ 56 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 $56 Ending Inventory
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PLEASE HELP! Michael uses its periodic inventory system and the following information is available: Sales $ 62,800 Beginning Inventory 10,100 Ending Inventory 8,200 Purchases 49,800 What is the cost of goods sold? $51,700 $8,200 $59,900 $49,800
I need help calculating the ending inventory and cost of goods sold using the LIFO method (Please Show Calculations) Note: I also attached an example of what the LIFO chart should look like, please follow that example to answer this question. Jensen Company had the following transactions regarding their inventory, They use a perpetual inventory system. Beginning Inventory: 100 units @ $6.00 per unit First Purchase: 100 units @ $7.00 per unit Sale: 150 units @ $15.00 per unit Second Purchase: 150 units @ $8.00 per unit Sale: 150 units @ $15.00 per unit
Using the average-cost method, calculate the cost of ending inventory and cost of goods sold for Chesney Corporation. (Round the average cost per unit to the nearest cent.) (Click the icon to view the data.) The cost of ending inventory is The cost of goods sold is Data table Beginning inventory Purchases Goods available for sale Ending inventory Cost of goods sold Quantity Unit Cost 170 $ 130 300 60 240 11.00 $ 14.00 $ Total - X 1,870 1,820
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 29 74 124 1. FIFO 69 78 168 Ending Inventory Unit Cost $54 $ 59 5.64 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.) $.64 Cost of Goods Sold
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Applying the Cost of Goods Sold Model Charest Company has the following data for 2022: Item Units Cost Inventory, 12/31/2021 980 $10,780 Purchases 4,480 49,280 Inventory, 12/31/2022 750 8,250 Required: 1. How many units were sold? 2. Using the cost of goods sold model, determine the cost of goods sold.
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