Required information 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] Cody's Fishing Hole has the following transactions related to its top-selling Shimano fishing reel for the month of June. Cody's Fishing Hole uses a periodic inventory system. June 1 June 12 June 15 June 24 June 21 June 29 Transactions Beginning investory Sala Purchase Sale Purchase Sale Purchase Ending invertory Cost of goods sold $ UNIAN 16 A 10 12 40 6.710 WAS CON $190 100 170 Problem 6-18 (Algo) Part 2 2. Using FIFO, calculate ending inventory and cost of goods sold at June 30 160 Total Cost $3,040 1,800 1,700 1,440 $7,900
Required information 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] Cody's Fishing Hole has the following transactions related to its top-selling Shimano fishing reel for the month of June. Cody's Fishing Hole uses a periodic inventory system. June 1 June 12 June 15 June 24 June 21 June 29 Transactions Beginning investory Sala Purchase Sale Purchase Sale Purchase Ending invertory Cost of goods sold $ UNIAN 16 A 10 12 40 6.710 WAS CON $190 100 170 Problem 6-18 (Algo) Part 2 2. Using FIFO, calculate ending inventory and cost of goods sold at June 30 160 Total Cost $3,040 1,800 1,700 1,440 $7,900
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Required information
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)
Cody's Fishing Hole has the following transactions related to its top-selling Shimano fishing reel for the month of June.
Cody's Fishing Hole uses a periodic inventory system.
June 1
June 1
June 12
June 15
June 24
June 27
June 29
Transactions
Beginning inventory
Sale
Purchase
Sale
Purchase
Sale
Purchas
Ending inventory
Cost of goods sold $
Unite
16
11
10
5.710
Unis Cont
$190
100
170
Problem 6-1B (Algo) Part 2
2. Using FIFO, calculate ending inventory and cost of goods sold at June 30.
160
Total Cost
$3,040
1,800
1,700
1,440
$7,500
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