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Required information Problem 6 - 1 B ( Algo ) Calculate ending inventory and cost of goods sold for four inventory methods ( LO 6

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)
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.
Date Transactions Units Unit Cost Total Cost
June 1 Beginning inventory 16 $270 $4,320
June 7 Sale 11
June 12 Purchase 102602,600
June 15 Sale 12
June 24 Purchase 102502,500
June 27 Sale 8
June 29 Purchase 82401,920
$11,340
!
Required information
Problem 6-1B (Algo) Calculate ending inventory and cost of goods sold for four inventory methods (LO6-
[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.
Prob
1. Calculate ending inventory and cost of goods sold at June 30, using the specific identification method. The June 7 sale consists of fishing reels from beginning inventory, the June 15 sale consists of three fishing reels from beginning inventory and nine fishing reels from the June 12 purchase, and the June 27 sale consists of one fishing reel from beginning inventory and seven fishing reels from the June 24 purchase.
2. Using FIFO, calculate ending inventory and cost of goods sold at June 30.
Part 33. Using LIFO, calculate ending inventory and cost of goods sold at June 30.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 fol
6-1B (Algo) Part 44. Using weighted-average cost, calculate ending inventory and cost of goods sold at June 30.(Round your intermediate calcu
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