Ontario Skateboard Company has the following inventory and purchases during the fiscal year ended December...
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Accounting
Ontario Skateboard Company has the following inventory and purchases during the fiscal year ended December
Beginning Inventory units @ $ unit
March purchased units @ $ unit
March sold units @ $ unit
May purchased units @ $ unit
August purchased units @ $ unit
September 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. ending inventory cost of goods sold
fifo
moving weighted average
Using your calculations from Part complete the following schedule: Do not round intermediate calculations. Round the final answers to decimal places. Round all weighted average unit costs to two decimal places.
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