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 Transactions October 1 Beginning inventory Units 6 Unit Cost Total Cost $840 $5,040 October 4 Sale 4 October 10 Purchase 5 850 4,250 October 13 Sale 3 October 20 Purchase 4 860 3,440 October 28 October 30 Sale 7 Purchase 7 870 6,090 $18,820 Problem 6-1A (Algo) Part 4 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.) 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 Transactions October 1 Beginning inventory Units 6 Unit Cost Total Cost $840 $5,040 October 4 Sale 4 October 10 Purchase 5 850 4,250 October 13 Sale 3 October 20 Purchase 4 860 3,440 October 28 October 30 Sale 7 Purchase 7 870 6,090 $18,820 Problem 6-1A (Algo) Part 4 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.) Ending inventory Cost of goods sold
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)
[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
October 4
Sale
October 10
Purchase
October 13
Sale
October 20
Purchase
October 28
Sale
October 30
Purchase
6453477
$840
$5,040
5
850
4,250
860
3,440
870
6,090
$18,820
Problem 6-1A (Algo) Part 4
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.)
Ending inventory
Cost of goods sold](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F34522229-e598-4f2e-8d7a-d5c5e0098c8d%2Fad64f8c2-c7c4-4cbb-9b15-a0599031673a%2Fxjyf0gl_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.]
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
October 4
Sale
October 10
Purchase
October 13
Sale
October 20
Purchase
October 28
Sale
October 30
Purchase
6453477
$840
$5,040
5
850
4,250
860
3,440
870
6,090
$18,820
Problem 6-1A (Algo) Part 4
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.)
Ending inventory
Cost of goods sold
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