Final answer:
To calculate Pina Colada Corp's ending inventory, COGS, net income, and average inventory for June, a periodic inventory system is used. Specific calculations require detailed numerical data, which isn't provided in the question. The steps listed offer a guide to find these financial measures.
Step-by-step explanation:
To answer these questions about Pina Colada Corp using a periodic inventory system for the month of June, the following steps would need to be taken:
- Calculate the ending inventory by adding the beginning inventory to the purchases made during the month and subtracting the cost of goods sold.
- The cost of goods sold (COGS) calculation would involve subtracting the ending inventory from the sum of the beginning inventory and purchases.
- To determine the net income, subtract the COGS and any operating expenses from the revenue earned during June.
- The average inventory can be found by taking the mean of the beginning and ending inventory.
Without specific numerical data, we cannot complete these calculations. However, these steps provide a framework to find the required financial measures once detailed figures are provided.