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
June 12
June 15
June 24
Transactions
Beginning inventory
Sale
Sale
Purchase
Purchase
June 27
June 29
Sale
Purchase
Units
16
Unit Cost
Total Cost
$300
$4,800
11
10
290
2,900
12
10
280
2,800
8
8
270
2,160
$12,660
4. Using weighted-average cost, calculate ending inventory and cost of goods sold at June 30. (Round your intermediate call
to 4 decimal places and final
answers to 2 decimal places.)
Ending inventory
Cost of goods sold
8