Required informationProblem 6-1B (Algo) Calculate ending inventory and cost of goods sold for four inventory methods (LO6-3)[The following information applies to the questions displayed below.]George's Fishing Hole has the following transactions related to its top-selling Shimano fishing reel for the month of June.George's Fishing Hole uses a periodic inventory system.TransactionsBeginning inventoryPurchaseDateJune 1June 7SaleJune 12June 15SaleJune 24PurchaseJune 27SaleJune 29PurchaseUnits16Unit CostTotal Cost$200$3,20011101901,90012101801,8008101701,700$8,600Problem 6-1B (Algo) Part 44. Using weighted-average cost, calculate ending inventory and cost of goods sold at June 30. (Round your intermediate calculationsto 4 decimal places and final answers to 2 decimal places.)Ending inventoryCost of goods sold

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Description: Required informationProblem 6-1B (Algo) Calculate ending inventory and cost of goods sold for four inventory methods (LO6-3)[The following information applies to the questions displayed below.]George's Fishing Hole has the following transactions rel

The inventory can be valued using various methods as FIFO, LIFO, and average methods. Using the…

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Problem 6-1B (Algo) Calculate ending inventory and cost of goods sold for four inventory methods (LO6- 3) [The following information applies to the questions displayed below.] George's Fishing Hole has the following transactions related to its top-selling Shimano fishing reel for the month of June. George's Fishing Hole uses a periodic inventory system. Date June 1 June 7 Transactions Beginning inventory Sale June 12 Purchase June 15 Sale June 24 Purchase June 27 Sale June 29 Purchase Units Unit Cost Total Cost 16 $200 $3,200 11 10 190 1,900 12 10 180 1,800 8 10 170 1,700 $8,600 Problem 6-1B (Algo) Part 4 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at June 30. (Round your intermediate calculation to 4 decimal places and final answers to 2 decimal places.) Ending inventory Cost of goods sold

Problem 6-1B (Algo) Calculate ending inventory and cost of goods sold for four inventory methods (LO6- 3) [The following information applies to the questions displayed below.] George's Fishing Hole has the following transactions related to its top-selling Shimano fishing reel for the month of June. George's Fishing Hole uses a periodic inventory system. Date June 1 June 7 Transactions Beginning inventory Sale June 12 Purchase June 15 Sale June 24 Purchase June 27 Sale June 29 Purchase Units Unit Cost Total Cost 16 $200 $3,200 11 10 190 1,900 12 10 180 1,800 8 10 170 1,700 $8,600 Problem 6-1B (Algo) Part 4 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at June 30. (Round your intermediate calculation to 4 decimal places and final answers to 2 decimal places.) Ending inventory Cost of goods sold

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter6: Inventories

Section: Chapter Questions

Problem 2PB: LIFO perpetual inventory The beginning inventory for Dunne Co. and data on purchases and sales for a...

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