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Required information Skip to question [The following information applies to the questions displayed below.] Codys Fishing Hole has the following transactions related to its top-selling

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[The following information applies to the questions displayed below.]

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.

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

2. Using FIFO, calculate ending inventory and cost of goods sold at June 30.

Required information

Skip to question

[The following information applies to the questions displayed below.]

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.

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

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

Required information

Skip to question

[The following information applies to the questions displayed below.]

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.

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

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.)

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