Sandra's Purse Boutique has the following transactions related to its top-selling Gucci purse for the month...
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Sandra's Purse Boutique has the following transactions related to its top-selling Gucci purse for the month of October Sandra's Purse Boutique uses a periodic inventory system. Date Transactions October 1 Beginning inventory October 4 Sale October 10 Purchase October 13 Sale Purchase October 201 October 28 Sale October 30 Purchase Units Unit Cost $760 770 6453478 780 790 Total Cost $4,560 3,850 3,120. 6,320 $17,850 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31. 4. Using weighted average cost, calculate ending inventory and cost of goods sold at October 31 (Round your intermediate answers to 2 decimal places.) Sandra's Purse Boutique has the following transactions related to its top-selling Gucci purse for the month of October Sandra's Purse Boutique uses a periodic inventory system. Date Transactions October 1 Beginning inventory October 4 Sale October 10 Purchase October 13 Sale Purchase October 201 October 28 Sale October 30 Purchase Units Unit Cost $760 770 6453478 780 790 Total Cost $4,560 3,850 3,120. 6,320 $17,850 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31. 4. Using weighted average cost, calculate ending inventory and cost of goods sold at October 31 (Round your intermediate answers to 2 decimal places.)
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Answer rating: 100% (QA)
Given October 1 Beginning inventory Units 6 Unit Cost 760 Total Cost 4560 October 4 Sale Units 4 Unit Cost Total Cost October 10 Purchase Units 5 Unit Cost 770 Total Cost 3850 October 13 Sale Units 3 ... View the full answer
Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
Posted Date:
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