! 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 October 13 October 20 October 28 October 30 Transactions Beginning inventory Sale Purchase Sale Purchase Sale Purchase Ending inventory Cost of goods sold Units 6 4 5 4 7 6 Unit Cost $720 730 740 750 Total Cost $4,320 3,650 2,960 4,500 $15,430 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. Alexandra's Boutique uses a periodic inventory system. 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 6 4 5 4 7 6 Unit Cost $720 730 740 750 Total Cost $4,320 3,650 2,960 4,500 $15,430 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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