Question 3: Using LIFO, calculate ending inventory and cost of goods sold at October 31. Question 4: Using weighted-average cost, calculate ending inventory and cost of goods sold at October 31. (Round your intermediate calculations to 4 decimal places and final answers to 2 decimal places.)
Question 3: Using LIFO, calculate ending inventory and cost of goods sold at October 31. Question 4: Using weighted-average cost, calculate ending inventory and cost of goods sold at October 31. (Round your intermediate calculations to 4 decimal places and final answers to 2 decimal places.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Question 3: Using LIFO, calculate ending inventory and
cost of goods sold at October 31. Question 4: Using
weighted-average cost, calculate ending inventory and
cost of goods sold at October 31. (Round your
intermediate calculations to 4 decimal places and final
answers to 2 decimal places.)
![!
Required information
Problem 6-1A (Algo) Calculate ending inventory and cost of goods sold for four inventory methods (LO6-
3)
[The following information applies to the questions displayed below.]
Alexandra's Boutique has the following transactions related to its top-selling Gucci purse for the month of October.
Alexandra's Boutique uses a periodic inventory system.
Date
October 1
October 4
October 10
October 13
October 20
October 28
October 30
Transactions
Beginning inventory
Sale
Purchase
Sale
Purchase
Sale
Purchase
Problem 6-1A (Algo) Part 4
Units Unit Cost
$880
6
4
53478
890
900
910
Total Cost
$5,280
4,450
3,600
7,280
$20,610](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5f09a9d5-bc97-49ea-91d7-c4ed1e3fe70c%2F46b5bd0b-1893-44f5-bb60-da9f03d90033%2F3jvm13_processed.png&w=3840&q=75)
Transcribed Image Text:!
Required information
Problem 6-1A (Algo) Calculate ending inventory and cost of goods sold for four inventory methods (LO6-
3)
[The following information applies to the questions displayed below.]
Alexandra's Boutique has the following transactions related to its top-selling Gucci purse for the month of October.
Alexandra's Boutique uses a periodic inventory system.
Date
October 1
October 4
October 10
October 13
October 20
October 28
October 30
Transactions
Beginning inventory
Sale
Purchase
Sale
Purchase
Sale
Purchase
Problem 6-1A (Algo) Part 4
Units Unit Cost
$880
6
4
53478
890
900
910
Total Cost
$5,280
4,450
3,600
7,280
$20,610
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