Required: 1.) Calculate ending inventory and cost of goods sold at October 31, using the specific identification method. The October 4 sale consists of purses from beginning inventory, the October 13 sale consists of one purse from beginning inventory and two purses from the October 10 purchase, and the October 28 sale consists of three purses from the October 10 purchase and four purses from the October 20 purchase. 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 calculations to 4 decimal places and final answers to 2 decimal places.)

Required: 1.) Calculate ending inventory and cost of goods sold at October 31, using the specific identification method. The October 4 sale consists of purses from beginning inventory, the October 13 sale consists of one purse from beginning inventory and two purses from the October 10 purchase, and the October 28 sale consists of three purses from the October 10 purchase and four purses from the October 20 purchase. 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 calculations to 4 decimal places and final answers to 2 decimal places.)

Name: Subject - account Please help me. Thankyou. Problem 6-1A (Algo) Calcul
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Description: Subject - account Please help me. Thankyou. Problem 6-1A (Algo) Calculate ending inventory and cost of goods sold for four inventory methods (LO6-3)Skip to question[The following information applies to the questions displayed below.]Brianna's Boutiqu

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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