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

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

Date Transactions Units Unit Cost Total Cost
June 1 Beginning inventory 16 $ 350 $ 5,633
June 7 Sale 11
June 12 Purchase 10 340 3,400
June 15 Sale 12
June 24 Purchase 10 330 3,300
June 27 Sale 8
June 29 Purchase 9 320 2,880
$ 15,180

a. Using FIFO, Calculate ending inventory and cost of goods sold at June 30.

Ending Inventory:

Cost of goods sold:

b. Using LIFO, calculate ending inventory and cost of goods sold at June 30.

Ending inventory:

Cost of goods sold:

c. Using weighted-average cost, calculate ending inventory and cost of goods sold at June 30. (Round your intermediate and final answers to 2 decimal places.)

Ending inventory:

Cost of goods sold:

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