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

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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