Eddy's Fishing Hole has the following transactions related to its top-selling Shimano fishing reel for the month of June. Eddy's Fishing Hole uses a periodic inventory system. Date June 1 June 7 June 12 June 15 June 24 June 27 June 29 Transactions Beginning inventory Sale Purchase Sale Purchase Sale Purchase Ending inventory Cost of goods sold Units 16 11 10 12 10 8 9 Unit Cost $260 250 240 230 Total Cost $4,160 2,500 2,400 2,070 $11,130 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.)
Eddy's Fishing Hole has the following transactions related to its top-selling Shimano fishing reel for the month of June. Eddy's Fishing Hole uses a periodic inventory system. Date June 1 June 7 June 12 June 15 June 24 June 27 June 29 Transactions Beginning inventory Sale Purchase Sale Purchase Sale Purchase Ending inventory Cost of goods sold Units 16 11 10 12 10 8 9 Unit Cost $260 250 240 230 Total Cost $4,160 2,500 2,400 2,070 $11,130 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.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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