Problem 6-18 (Algo) Calculate ending inventory and cost of goods sold for four inventory methods (LO6. 3) [The following information applies to the questions displayed below) 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 291 Transactions Beginning inventory Sale Purchase Sale Ending inventory Cost of goods sold Purchase Sale Purchase Units 16 11 10 12 10. 0 9 Unit Cont $290 280 270 260 Problem 6-18 (Algo) Part 2 2. Using FIFO, calculate ending inventory and cost of goods sold at June 30. Total Cost $4,640 2,800 2,700 2,340 $12,400
Problem 6-18 (Algo) Calculate ending inventory and cost of goods sold for four inventory methods (LO6. 3) [The following information applies to the questions displayed below) 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 291 Transactions Beginning inventory Sale Purchase Sale Ending inventory Cost of goods sold Purchase Sale Purchase Units 16 11 10 12 10. 0 9 Unit Cont $290 280 270 260 Problem 6-18 (Algo) Part 2 2. Using FIFO, calculate ending inventory and cost of goods sold at June 30. Total Cost $4,640 2,800 2,700 2,340 $12,400
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Please help me with periodic system
Transcribed Image Text:Problem 6-18 (Algo) Calculate ending inventory and cost of goods sold for four inventory methods (LO6-
3)
[The following information applies to the questions displayed below)
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 71
June 12
June 15
June 24
June 27
June 29
Transactions
Beginning inventory
Ending inventory
Cost of goods sold
Sale
Purchase
Sale
Purchase
Sale
Purchase
Unita Unit Cost
16
$290
11
10
280
12
10
0
9
270
260
Problem 6-18 (Algo) Part 2
2. Using FIFO, calculate ending inventory and cost of goods sold at June 30
Total Cost
$4,640
2,800
2,700
2,340
$12,400
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