Homework answers / question archive / Gross profit comparisons and cost flow assumptions—perpetual L02, 3  Ontario Skateboard Company has the following inventory and purchases during the fiscal year ended December 31, 2020

Gross profit comparisons and cost flow assumptions—perpetual L02, 3  Ontario Skateboard Company has the following inventory and purchases during the fiscal year ended December 31, 2020

Accounting

Share With

Gross profit comparisons and cost flow assumptions—perpetual L02, 3 
Ontario Skateboard Company has the following inventory and purchases during the fiscal year ended December 31, 2020. 
Beginning Inventory 289 units @ $ 79/unit March 10 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 using: (Do not round intermediate calculations. Round the final answers to 2 decimal places. Round weighted average all unit costs to two decimal places.)