Question: I'm not sure which method to use so maybe use average or whatever makes the most sense Question 1 (15 points) On June 1, Grill

 I'm not sure which method to use so maybe use average

I'm not sure which method to use so maybe use average or whatever makes the most sense

Question 1 (15 points) On June 1, Grill Master Ltd. had an inventory of 10 barbeques at a cost of $440 each. Grill Master uses a periodic inventory system. During the month of June the following transactions occurred: Jun 3 Purchased 25 barbeques at a cost of $440 each from BBQ King Ltd., terms n 30. 5 Paid $200 freight for the barbeques purchased on June 3. 6 Sold 12 barbeques to Outdoor Grill for $760 each, term n/30. The returns estimate was 5%. Received credit from BBQ King for the return of two defective barbeques. Issued a credit to Outdoor Grill for the return of one defective barbeque. Received a credit from BBQ King for the defective barbeque returned by Outdoor Grill. 19 Purchased 10 barbeques from Backyard Barbecues at a cost of $440 each, terms 2/10,n/30. Paid freight of $200 on the June 19 purchase. On June 30, Grill Masters ending inventory was 56,440 7 13 16 20 Instructions (a) Prepare journal entries to record the above transactions. (6) Calculate the cost of goods sold for June

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