Question

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 and had transactions as follows:

1. Mar 1st beginning inventory 5 units at $30 per unit
2. Mar 3rd sold 3 units
3. Mar 6th purchased inventory 30 units at $40 per unit
4. Mar 17th sold 20 units
5. Mar 23rd purchased inventory 25 units at $50 per unit
6. Mar 31st sold 30 units

Required: Use the information above to answer the questions below for First In First Out (FIFO) and Moving Weighted Average (MWA) inventory costing methods.  

ROUND ALL ANSWERS TO 2 DECIMAL PLACES

What is the Cost of Goods Sold for the Mar 3rd sale under FIFO inventory costing?

What is the Cost of Goods Sold for the Mar 17th sale under FIFO inventory costing?

What is the Cost of Goods Sold for the Mar 31st sale under FIFO inventory costing?

What is the ending inventory on Mar 31st under the FIFO inventory costing?

What is the Cost of Goods Sold for the Mar 17th sale under MWA inventory costing?

What is the Cost of Goods Sold for the Mar 31st sale under MWA inventory costing?

What is the ending inventory on Mar 31st under the MWA inventory costing?

What is the Gross Profit for the month of March under the MWA inventory costing?

CAN YOU PLEASE PROVIDE ME JUST THE NUMBERS IN EVERY QUESTION

Answer 1

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Sport Box
Answer 1	Units	Cost per unit	Total
Beginning Inventory	3.00	30.00	90.00
Cost of Goods sold -March 3rd	3.00		90.00
Answer 2	Units	Cost per unit	Total
Beginning Inventory	2.00	30.00	60.00
Purchased on March 6th	18.00	40.00	720.00
Cost of Goods sold -March 17th	20.00		780.00
Answer 3	Units	Cost per unit	Total
Purchased on March 6th	12.00	30.00	360.00
Purchased on March 23rd	18.00	50.00	900.00
Cost of Goods sold -March 31st	30.00		1,260.00
Answer 4	Units	Cost per unit	Total
Purchased on March 23rd	7.00	50.00	350.00
Ending Inventory	7.00		350.00
Answer 5	Units	Cost per unit	Total
Beginning Inventory	2.00	30.00	60.00
Purchased on March 6th	30.00	40.00	1,200.00
Total	32.00	39.38	1,260.00
Cost of Goods sold -March 17th	20.00		787.50
Answer 6	Units	Cost per unit	Total
Beginning Inventory	2.00	30.00	60.00
Purchased on March 6th	30.00	40.00	1,200.00
Total	32.00	39.38	1,260.00
Cost of Goods sold -March 17th	20.00		787.50
Answer 7	Units	Cost per unit	Total
Inventory balance on Mar 6	12.00	39.38	472.50
Purchased on March 23rd	25.00	50.00	1,250.00
Total	37.00	46.55	1,722.50
Cost of Goods sold -March 31st	30.00		1,396.62
Answer 8	Units	Cost per unit	Total
Inventory balance on Mar 30	7.00	46.55	325.88
Ending Inventory	7.00		325.88
Answer 9	Units	Price per unit	Total
Sold on March 3rd	3.00	130.00	390.00
Sold on March 6th	20.00	130.00	2,600.00
Sold on March 31st	30.00	130.00	3,900.00
Total	53.00		6,890.00

Answer 10
Gross profit under MWA	Amount $
Total sales	6,890.00
Less:
Cost of goods sold on March 3rd	90.00
Cost of goods sold on March 6th	787.50
Cost of goods sold on March 31st	1,396.62
Gross profit	4,615.88