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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
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 Unit Cost $210 Transactions Beginn Inventory Total Cost $3,160 Date June 16 11 10 12 10 200 2.000 1,900 June 12 June 15 June 24 June 27 June 20 Purchase Sale Purchase Sale Purchase 180 1.4.40 $8,700 Required: 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 sole consists of one fishing reel from beginning inventory and seven fishing reels from the June 24 purchase Ending inventory Cost of goods sold
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