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Required information [The following information applies to the questions displayed below. Jimmie's Fishing Hole has the following transactions related to its top-selling Shimano fishing reel
Required information [The following information applies to the questions displayed below. Jimmie's Fishing Hole has the following transactions related to its top-selling Shimano fishing reel for the month of June. Jimmie's Fishing Hole uses a periodic inventory system. Units Unit Cost $200 16 Total Cost $3,200 190 1,900 Date June 1 June 7 June 12 June 15 June 24 June 27 June 29 Transactions Beginning inventory Sale Purchase Sale Purchase Sale Purchase 1,800 1,700 $8,600 2. Using FIFO, calculate ending inventory and cost of goods sold at June 30. Answer is complete but not entirely correct. Ending inventory Cost of goods sold S S 2,600 6 ,600
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