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 Transactions October 1 Beginning inventory October 4 Sale October 10 Purchase October 13 Sale Purchase October 20 October 28 Sale October 30 Purchase Ending inventory Cost of goods sold 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 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31.
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 Transactions October 1 Beginning inventory October 4 Sale October 10 Purchase October 13 Sale Purchase October 20 October 28 Sale October 30 Purchase Ending inventory Cost of goods sold 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 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31.
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 Sale
October 30
Transactions
Beginning inventory
Sale
Purchase
Sale
Purchase
Ending inventory
Cost of goods sold
Purchase
Units
6
453476
4
Unit Cost
$ 780
790
800
810
Total Cost
$ 4,680
3,950
3,200
4,860
$ 16,690
2. Using FIFO, calculate ending inventory and cost of goods sold at October 31.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F65b1a488-e3f9-422d-916a-2a3fe560587a%2F76096de9-6666-49eb-bdb0-ff3146952b76%2Ftjiwwrb_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 Sale
October 30
Transactions
Beginning inventory
Sale
Purchase
Sale
Purchase
Ending inventory
Cost of goods sold
Purchase
Units
6
453476
4
Unit Cost
$ 780
790
800
810
Total Cost
$ 4,680
3,950
3,200
4,860
$ 16,690
2. Using FIFO, calculate ending inventory and cost of goods sold at October 31.
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