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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

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 5MC: The moving average inventory cost flow assumption is applicable to which of the following inventory...
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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
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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