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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.) Sara's Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sara's Boutique uses a periodic inventory system. Date October 1 Transactions Beginning inventory Units 6 Unit Cost Total Cost $700 $4,200 October 4 Sale 4 October 10 Purchase 5 710 3,550 October 13 Sale 3 October 20 Purchase 4 720 2,880 October 28 Sale 7 October 30 Purchase 8 730 5,840 $16,470 Problem 6-1A (Algo) Part 2 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold

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.) Sara's Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sara's Boutique uses a periodic inventory system. Date October 1 Transactions Beginning inventory Units 6 Unit Cost Total Cost $700 $4,200 October 4 Sale 4 October 10 Purchase 5 710 3,550 October 13 Sale 3 October 20 Purchase 4 720 2,880 October 28 Sale 7 October 30 Purchase 8 730 5,840 $16,470 Problem 6-1A (Algo) Part 2 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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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.) Sara's Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sara's Boutique uses a periodic inventory system. Date October 1 Transactions Beginning inventory Units 6 Unit Cost Total Cost $700 $4,200 October 4 Sale 4 October 10 Purchase 5 710 3,550 October 13 Sale 3 October 20 Purchase 4 720 2,880 October 28 Sale 7 October 30 Purchase 8 730 5,840 $16,470 Problem 6-1A (Algo) Part 2 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold
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.) Sara's Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sara's Boutique uses a periodic inventory system. Date October 1 Transactions Beginning inventory Units 6 Unit Cost Total Cost $700 $4,200 October 4 Sale 4 October 10 Purchase 5 710 3,550 October 13 Sale 3 October 20 Purchase 4 720 2,880 October 28 Sale 7 October 30 Purchase 8 730 5,840 $16,470 Problem 6-1A (Algo) Part 2 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold
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