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29 Starshine Coffee Equipment sells European style coffee makers and uses a perpetual inventory system....

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Accounting

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29 Starshine Coffee Equipment sells European style coffee makers and uses a perpetual inventory system. Its inventory records show that on June 1, Starshine had 12 units on hand at a cost of $220 each. Transactions related to purchase and sale of coffee makers in June were as follows: t of estion Per unit Date TransactionUnitsCost Sales price June 10Sale 3 $510 June 15Sale 4 $510 June 20Purchase 5 $230 June 22Purchase 6 $240 June 30Sale 10 $500 Instructions For each of the following cost formulas, calculate the ending inventory as at June 30 and the cost of goods sold for the month of June. Prove the cost of goods sold calculations. a FIFO

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