4. Using weighted-average cost, calculate ending inventory and cost of goods sold at October 31. (Do not round intermedia calculations. Round your final answers to 2 decimal places.)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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[The following information applies to the questions displayed below.]
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.
Cost per
Date
Transactions
Units
Unit
Total Cost
$ 4,620
Beginning inventory
Sale
October 1
6.
October 4
4.
October 10
Purchase
780
5.
October 13
October 20
October 28
October 30
Sale
3.
Purchase
3,160
4.
Sale
Purchase
008
$17,280
4. Using weighted-average cost, calculate ending inventory and cost of goods sold at October 31. (Do not round intermediat
calculations. Round your final answers to 2 decimal places.)
Ending inventory
Cost of goods sold
Transcribed Image Text:pee Required information [The following information applies to the questions displayed below.] 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. Cost per Date Transactions Units Unit Total Cost $ 4,620 Beginning inventory Sale October 1 6. October 4 4. October 10 Purchase 780 5. October 13 October 20 October 28 October 30 Sale 3. Purchase 3,160 4. Sale Purchase 008 $17,280 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at October 31. (Do not round intermediat calculations. Round your final answers to 2 decimal places.) Ending inventory Cost of goods sold
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