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. Alexandra's Boutique uses a periodic inventory system. Date October 1 October 4 October 10 Transactions Beginning inventory Sale Purchase October 13 Sale October 20 Purchase October 28 Sale October 30 Purchase Units 64534700 Unit Cost $820 Total Cost $4,920 830 4,150 840 3,360 850 6,800 $19,230 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory $ Cost of goods sold $ 6,800 12,430 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold $ 3,400 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 [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. Alexandra's Boutique uses a periodic inventory system. Date October 1 October 4 October 10 Transactions Beginning inventory Sale Purchase October 13 Sale October 20 Purchase October 28 Sale October 30 Purchase Units 64534700 Unit Cost $820 Total Cost $4,920 830 4,150 840 3,360 850 6,800 $19,230 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory $ Cost of goods sold $ 6,800 12,430 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold $ 3,400 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
Problem 1Q
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please answer this with must explanation , computation , for each steps and each parts answer in text form
![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.
Alexandra's Boutique uses a periodic inventory system.
Date
October 1
October 4
Transactions
Beginning inventory
Sale
October 10
Purchase
October 13
Sale
October 20
October 28
October 30
Purchase
Sale
Purchase
Units
6
Unit Cost
Total Cost
$820
$4,920
4
5
830
4,150
3
4
840
3,360
7
8
850
6,800
$19,230
2. Using FIFO, calculate ending inventory and cost of goods sold at October 31.
Ending inventory
$
Cost of goods sold
$
6,800
12,430
3. Using LIFO, calculate ending inventory and cost of goods sold at October 31.
Ending inventory
Cost of goods sold
$
3,400
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%2Fb9483bb6-9d32-4fcc-97d5-f9bf9f64fec1%2F3088a6d8-b63a-47bb-a3fe-ffa8996997db%2Ftnh68j_processed.png&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.
Alexandra's Boutique uses a periodic inventory system.
Date
October 1
October 4
Transactions
Beginning inventory
Sale
October 10
Purchase
October 13
Sale
October 20
October 28
October 30
Purchase
Sale
Purchase
Units
6
Unit Cost
Total Cost
$820
$4,920
4
5
830
4,150
3
4
840
3,360
7
8
850
6,800
$19,230
2. Using FIFO, calculate ending inventory and cost of goods sold at October 31.
Ending inventory
$
Cost of goods sold
$
6,800
12,430
3. Using LIFO, calculate ending inventory and cost of goods sold at October 31.
Ending inventory
Cost of goods sold
$
3,400
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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