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Codys Fishing Hole has the following transactions related to its top-selling Shimano fishing reel for the month of June. Codys Fishing Hole uses a periodic

Codys Fishing Hole has the following transactions related to its top-selling Shimano fishing reel for the month of June. Codys Fishing Hole uses a periodic inventory system. Using LIFO, calculate ending inventory and cost of goods sold at June 30.

Date Transactions Units Unit Cost Total Cost
June 1 Beginning inventory 16 $160 $2,560
June 7 Sale 11
June 12 Purchase 10 150 1,500
June 15 Sale 12
June 24 Purchase 10 140 1,400
June 27 Sale 8
June 29 Purchase 9 130 1,170
$6,630

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