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 Beginning inventory Sale October 1 9. $ 4,620 October 4 4. 5. 3. October 10 780 Purchase October 13 Sale October 20 Purchase 3,160 4. 07 October 28 Sale October 30 Purchase $17,280 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold < Prev 14 15 16 of 16 Next > 重 a 42 69

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
Beginning inventory
Sale
October 1
9.
$ 4,620
October 4
4.
5.
3.
October 10
780
Purchase
October 13
Sale
October 20
Purchase
3,160
4.
07
October 28
Sale
October 30
Purchase
$17,280
2. Using FIFO, calculate ending inventory and cost of goods sold at October 31.
Ending inventory
Cost of goods sold
< Prev
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a
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69
Transcribed Image Text: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 Beginning inventory Sale October 1 9. $ 4,620 October 4 4. 5. 3. October 10 780 Purchase October 13 Sale October 20 Purchase 3,160 4. 07 October 28 Sale October 30 Purchase $17,280 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold < Prev 14 15 16 of 16 Next > 重 a 42 69
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