Question

In: Accounting

Sport Box sells a wide variety of sporting equipment. The following is information on the purchases...

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 24 $49
Mar. 3 Purchase 69 $54
Mar. 6 Purchase 119 $59
Mar. 17 Sale 64
Mar. 23 Purchase 68 $59
Mar. 31 Sale 158


Required:
Calculate the cost of goods sold and ending inventory under the perpetual inventory system using the following methods

Solutions

Expert Solution

ekkarill92 answered 2 years ago
Next > < Previous

Related Solutions

Sport Box sells a wide variety of sporting equipment. The following is information on the purchases...
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: Mar 1st beginning inventory 5 units at $30 per unit Mar 3rd sold 3 units Mar 6th purchased inventory 30 units at $40 per unit Mar 17th sold 20 units Mar 23rd purchased inventory 25 units at $50 per unit Mar 31st sold 30 units...
Sport Box sells a wide variety of sporting equipment. The following is information on the purchases...
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: Mar 1st beginning inventory 5 units at $30 per unit Mar 3rd sold 3 units Mar 6th purchased inventory 30 units at $40 per unit Mar 17th sold 20 units Mar 23rd purchased inventory 25 units at $50 per unit Mar 31st sold 30 units...
Sport Box sells a wide variety of sporting equipment. The following is information on the purchases...
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 7 $32 Mar. 3 Purchase 52 $37 Mar. 6 Purchase 102 $42 Mar. 17 Sale 47 Mar. 23 Purchase 34 $42 Mar. 31 Sale 124 Required: Calculate the cost of goods sold and ending inventory under the perpetual inventory system using the...
Sport Box sells a wide variety of sporting equipment. The following is information on the purchases...
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 24 $49 Mar. 3 Purchase 69 $54 Mar. 6 Purchase 119 $59 Mar. 17 Sale 64 Mar. 23 Purchase 68 $59 Mar. 31 Sale 158 Required: Calculate the cost of goods sold and ending inventory under the perpetual inventory system using the...
Big Apple Sporting Goods is a retail store that sells a variety of sports equipment. The...
Big Apple Sporting Goods is a retail store that sells a variety of sports equipment. The company's fiscal year ends on December 31. Information to be used for the operating budget this coming year follows. Sales and Merchandise Purchases Budget Information • Sales for this coming year ending December 31 are expected to be as follows: First quarter: $600,000 Second quarter: $650,000 Third quarter: $660,000 Fourth quarter: $800,000 • Cost of goods sold is 40 percent of sales (this is...
Land's Bend sells a wide variety of outdoor equipment and clothing. The company sells both through...
Land's Bend sells a wide variety of outdoor equipment and clothing. The company sells both through mail order and via the internet. Random samples of sales receipts were studied for mail-order sales and internet sales, with the total purchase being recorded for each sale. A random sample of 1616 sales receipts for mail-order sales results in a mean sale amount of $72.50$⁢72.50 with a standard deviation of $20.75$⁢20.75. A random sample of 77 sales receipts for internet sales results in...
K.Brew sells a wide variety of outdoor equipment and clothing. The company sells both through mail...
K.Brew sells a wide variety of outdoor equipment and clothing. The company sells both through mail order and via the internet. Random samples of sales receipts were studied for mail-order sales and internet sales, with the total purchase being recorded for each sale. A random sample of 14 sales receipts for mail-order sales results in a mean sale amount of $80.40 with a standard deviation of $24.75. A random sample of 10 sales receipts for internet sales results in a...
K.Brew sells a wide variety of outdoor equipment and clothing. The company sells both through mail...
K.Brew sells a wide variety of outdoor equipment and clothing. The company sells both through mail order and via the internet. Random samples of sales receipts were studied for mail-order sales and internet sales, with the total purchase being recorded for each sale. A random sample of 8sales receipts for mail-order sales results in a mean sale amount of $78.70 with a standard deviation of $18.75. A random sample of 17 sales receipts for internet sales results in a mean...
J.J.Bean sells a wide variety of outdoor equipment and clothing. The company sells both through mail...
J.J.Bean sells a wide variety of outdoor equipment and clothing. The company sells both through mail order and via the internet. Random samples of sales receipts were studied for mail-order sales and internet sales, with the total purchase being recorded for each sale. A random sample of 1717 sales receipts for mail-order sales results in a mean sale amount of $78.60$⁢78.60 with a standard deviation of $24.75$⁢24.75. A random sample of 99 sales receipts for internet sales results in a...
Cost of Reworked Units Warren’s Sporting Goods Store sells a variety of sporting goods and clothing....
Cost of Reworked Units Warren’s Sporting Goods Store sells a variety of sporting goods and clothing. In a back room, Warren’s has set up heat transfer equipment to personalize T-shirts for Little League teams. Typically, each team has the name of the individual player put on the back of the T-shirt. Last week, Shona Kohlmia, coach of the Terrors, brought in a list of names for her team. Her team consisted of 12 players with the following names: Mary Kate,...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT