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

Required information Problem 6-1B (Algo) Calculate ending inventory and cost of goods sold for four inventory methods (LO63) [The following information applies to the questions displayed below.] George's Fishing Hole has the following transactions related to its top-selling Shimano fishing reel for the month of June. George's Fishing Hole uses a periodic inventory system. Problem 6-1B (Algo) Part 1 Required: 1. Calculate ending inventory and cost of goods sold at June 30 , using the specific identification method. The June 7 sale consists of ishing reels from beginning inventory, the June 15 sale consists of three fishing reels from beginning inventory and nine fishing reels rom the June 12 purchase, and the June 27 sale consists of one fishing reel from beginning inventory and seven fishing reels from the lune 24 purchase. 2. Using FIFO, calculate ending inventory and cost of goods sold at June 30 . 3. Using LIFO, calculate ending inventory and cost of goods sold at June 30 . 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at June 30 . (Round your intermediate calculations to 4 decimal places and final answers to 2 decimal places.)