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using fifo, George s Fishing Hole has the following transactions related to its top - selling Shimano fishing reel for the month of June. George

using fifo, 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 $330 $5,280
June 7 Sale 11
June 12 Purchase 103203,200
June 15 Sale 12
June 24 Purchase 103103,100
June 27 Sale 8
June 29 Purchase 83002,400
$13,980

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