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Calculate the dollar value of ending inventory

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Question - Ontario Skateboard Company has the following inventory and purchases during the fiscal year ended December 31, 2020.

Beginning Inventory 289 units @ $79/unit

March10 purchased 210 units @ $82/unit

March 20 sold 405 units @ $165/unit

May 13 purchased 302 units @ $76/unit

August 5 purchased 281 units @ $70/unit

September 10 sold 500 units @ $165/unit

Ontario Skateboard Company employs a perpetual inventory system.

Required -

1. Calculate the dollar value of ending inventory and cost of goods sold?

2. Using your calculations from Part 1, complete the following schedule: (Do not round intermediate calculations. Round the final answers to 2 decimal places. Round weighted average all unit costs to two decimal places.)

Reference no: EM132927948

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