Required information [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. Date October 1 October 4 October 10 October 13 October 20 October 28 October 30 Transactions Beginning inventory Sale Purchase. Sale Purchase Sale Purchase Units 6 4 5 3 4 7 6 Unit Cost $ 780 790 800 810 Total Cost $ 4,680 3,950 3,200 4,860 $ 16,690
Required information [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. Date October 1 October 4 October 10 October 13 October 20 October 28 October 30 Transactions Beginning inventory Sale Purchase. Sale Purchase Sale Purchase Units 6 4 5 3 4 7 6 Unit Cost $ 780 790 800 810 Total Cost $ 4,680 3,950 3,200 4,860 $ 16,690
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Required information
[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.
Date
October 1
October 4
October 10
October 13
October 20
October 28
October 30
Transactions
Beginning inventory
Sale
Purchase
Sale
Purchase
Sale
Purchase
Ending inventory
Cost of goods sold
Units Unit Cost
6
$ 780
4
5
3
4
7
6
790
800
810
Total Cost
$ 4,680
3,950
3,200
4,860
$ 16,690
8. Using LIFO, calculate ending inventory and cost of goods sold at October 31.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4edd7948-fe36-4ff6-925c-2b77549cf078%2F17d9b126-e361-4266-b3dd-f90020fc64ff%2F03bv6xc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[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.
Date
October 1
October 4
October 10
October 13
October 20
October 28
October 30
Transactions
Beginning inventory
Sale
Purchase
Sale
Purchase
Sale
Purchase
Ending inventory
Cost of goods sold
Units Unit Cost
6
$ 780
4
5
3
4
7
6
790
800
810
Total Cost
$ 4,680
3,950
3,200
4,860
$ 16,690
8. Using LIFO, calculate ending inventory and cost of goods sold at October 31.
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