Required information 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.]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 Transactions Units Unit Cost Total Cost October 1 Beginning inventory 6 $760 $4,560 October 4 Sale 4 October 10 Purchase 5 770 3,850 October 13 Sale 3 October 20 Purchase 4 780 3,120 October 28 Sale 7 October 30 Purchase 8 790 6,320 $17,850 Problem 6-1A (Algo) Part 3 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31.
Required information 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.]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 Transactions Units Unit Cost Total Cost October 1 Beginning inventory 6 $760 $4,560 October 4 Sale 4 October 10 Purchase 5 770 3,850 October 13 Sale 3 October 20 Purchase 4 780 3,120 October 28 Sale 7 October 30 Purchase 8 790 6,320 $17,850 Problem 6-1A (Algo) Part 3 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Required information
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.]
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 | Transactions | Units | Unit Cost | Total Cost |
|---|---|---|---|---|
| October 1 | Beginning inventory | 6 | $760 | $4,560 |
| October 4 | Sale | 4 | ||
| October 10 | Purchase | 5 | 770 | 3,850 |
| October 13 | Sale | 3 | ||
| October 20 | Purchase | 4 | 780 | 3,120 |
| October 28 | Sale | 7 | ||
| October 30 | Purchase | 8 | 790 | 6,320 |
| $17,850 |
Problem 6-1A (Algo) Part 3
3. Using LIFO, calculate ending inventory and cost of goods sold at October 31.
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