Sport Box sells a wide variety of sporting equipment. The following is information on the purchases anc 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 69 78 168 Unit Cost $54 $59 5.64 $64 Required: Calculate the cost of goods sold and ending inventory under the perpetual inventory system using the foll round your "Unit Cost" answers, Round all other intermediate and final answers to nearest whole dolle
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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 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 InventorySport 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 $125. Description Units Unit Cost Mar. 1 Beginning Inventory 15 $ 40 Mar. 3 Purchase 60 $ 45 Mar. 6 Purchase 110 $ 50 Mar. 17 Sale 55 Mar. 23 Purchase 50 $ 50 Mar. 31 Sale 140 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
- Xpert Snowboards sells an ultra-lightweight snowboard that is considered to be one of the best on the market. Information follows for Xpert's purchases and sales of the ultra-lightweight snowboard in October: Transaction Date Oct. 1 Beginning inventory 10 Purchase 12 Sale 13 Purchase 25 Sale 27 Purchase Units 25 30 (42) 35 (45) 20 Unit Purchase Price $295 300 305 310 Unit Sales Price $450 460 Instructions a. Calculate the cost of goods sold and the ending inventory using FIFO and weighted average, assuming Xpert uses a perpetual inventory system. Round the weighted average cost per unit to two decimal places. b. What would be the ending inventory and cost of goods sold if Xpert used FIFO and weighted average in a periodic inventory system? Round the weighted average cost per unit to two decimal places. Record transactions in perpetual and periodic inventory systems.Mountain Country Inc. sells an Xpert skateboard that is popular with skateboard enthusiasts. The following information shows Mountain Country's purchases and sales of Xpert skateboards during November: Date Nov. (a) 1 Beginning inventory 5 12 19 22 Explanation 25 Purchases Sales Purchases Sales Purchases. Cost of goods sold $ Ending inventory Units $ 34 FIFO 24 (42) 43 (49) 35 45 Unit Cost/Price $299 304 467 Determine the cost of goods sold and ending inventory using (1) FIFO and (2) average cost, assuming Mountain Country uses a perpetual inventory system. (Round FIFO answers to O decimal places, e.g. 5,275 and Average cost answers to 2 decimal places, e.g. 5,275.25. Do not round intermediate calculations.) 309 519 314 $ $ Average CostUse Exhibit 18-1 to determine the sales tax (in $) and calculate the total purchase price (in $) for the item. (Round your answers to the nearest cent.) Item SellingPrice SalesTax TotalPurchase Price Hair dryer $19.22
- Case Defence sells smartphone cases and uses the perpetual inventory system. The following is information on the purchases and sales of "Defender Box" cases. On October 1, Case Defence had 38 units with a unit cost of $32. Purchases Sales Date Units Unit Cost Units Unit Price Oct. 28 33 Oct. 33 $ 68 Oct. 12 38 35 Oct. 19 38 $ 68 Oct. 23 48 37 Oct. 30 43 $ 68 Oct. 31 33 38 Required: 1. Calculate the dollar value of cost of goods sold and ending inventory for the month of October using the following methods. (Do not round intermediate calculations. Round weighted average all unit costs to two decimal places and round all other numbers to the nearest dollar.) Ending Inventory Cost of Goods Sold a FIFO b Moving weighted averageComplete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $). Stock # Description Unit Price Amount 4811V Stereo Receivers 50 x $296.50 $ 511CX Blu-Ray Players 25 x $131.28 $ 6146M Home Theater Systems 40 x $656.12 $ 1031A LCD TVs 20 x $592.00 $ Merchandise Total $ 56,191.80 Insurance + Shipping $ 1,250 Invoice Total $ 57,441.80 (b) What are the discount date and the net date if the shipment arrived on July 13? Discount Date Net Date (c) While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)? Returned merchandise$ Revised merchandise total$ (d) What are the amount (in $) of the cash discount and the net amount due if the discount is taken? (Round your answers to the nearest cent.)…Use Exhibit 18-1 to determine Sales Tax in (K and Calculate the Total purchase price (in) for the Item. (Round Your Answer to the nearest Cent) 2 Item Hair Dryer Selling Price Sales Tax $$17.28 Total Purchase Rrice
- Use the following information to answer Exercises E6- Golf Unlimited carries an inventory of putters and other golf clubs. The sales price of each putter is $119. Company records indicate the following for a particular line of Golf Unlimited's putters: Unit Cost Quantity Date Item $ 53 24 Nov. 1 Balance 20 6. Sale 70 30 8 Purchase 30 17 Sale 30 Sale 2 E6-16 Measuring and journalizing merchandise inventory and cost of goods sold-FIFO Requirements 1. Prepare a perpetual inventory record for the putters assuming Golf Unlimited usee the FIFO inventory costing method. Then identify the cost of ending inventory and cost of goods sold for the month. ucing the FIFO inventory cost-Golf Haven Superstore carries an inventory of putters and other golf clubs. The sales price of each putter is $144. Company records indicate the following for a particular line of Golf Haven Superstore's putters View the records. Read the requirements. Requirement 1. Prepare Golf Haven Superstore's perpetual inventory record for the putters assuming Golf Haven Supersto Round weighted average cost per unit to the nearest cent and all other amounts to the nearest dollar. Then identify the cost Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the Date Jun. 1 Jun 6 Jun 8 Quantity 12 Purchases Unit Cost 75 Total Cost 900 Cost of Goods Sold Unit Cost Quantity Total Cost 2 $ 72 $ 144 Inventory on Hand Unit Quantity Cost 8 $ 65 6 72 S 72 S Total Cost 576 432 450 Records Date Jun. 1 Jun. 6 Jun. 8…Use the following information for Pets Galore, a retail merchandiser of pet supplies to compute the Goods Available for Sale. Website Maintenance $7,500.Delivery Expense 900.Freight In 2,100.Purchases 42,000.Ending Merchandise Inventory 3,900.Revenues 57,000.Marketing Expenses 9,500.Beginning Merchandise Inventory 8,900.