Beginning inventory, purchases, and sales data for hammocks are as follows:

a. Assume the business maintains a perpetual inventory system, costing by the first-in, first-out method. Determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 3, on page 310.
b. The June 30 inventory count is $2,840. Record the journal entry required.
c. Assume the business maintains a perpetual inventory system, costing by the weighted average method. Determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4, on page 311.
d. The June 30 inventory count is $2,840. Record the journal entry required.

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Jun. Inventory 15 units at $112 6 Sale 9 units 8 Purchase 22 units at $120 10 Sale 20 Sale 30 13 units 12 units 21 units at $124 Purchase