Eddys Fishing Hole has the following transactions related to its top-selling Shimano fishing reel for...
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Accounting
Eddys Fishing Hole has the following transactions related to its top-selling Shimano fishing reel for the month of June. Eddys Fishing Hole uses a periodic inventory system. Date Transactions Units Unit Cost Total Cost June 1 Beginning inventory 16 $260 $4,160 June 7 Sale 11 June 12 Purchase 10 250 2,500 June 15 Sale 12 June 24 Purchase 10 240 2,400 June 27 Sale 8 June 29 Purchase 9 230 2,070 $11,130 3. Using LIFO, calculate ending inventory and cost of goods sold at June 30.
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