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 Unit Cost 6 $820 3 830 840 850 Total Cost $4,920 4,150 3,360 6,800 $19,230 Required: 1. Calculate ending inventory and cost of goods sold at October 31, using the specific identification method. The October 4 sale consists of purses from beginning inventory, the October 13 sale consists of one purse from beginning inventory and two purses from the October 10 purchase, and the October 28 sale consists of three purses from the October 10 purchase and four purses from the October 20 purchase.
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 Unit Cost 6 $820 3 830 840 850 Total Cost $4,920 4,150 3,360 6,800 $19,230 Required: 1. Calculate ending inventory and cost of goods sold at October 31, using the specific identification method. The October 4 sale consists of purses from beginning inventory, the October 13 sale consists of one purse from beginning inventory and two purses from the October 10 purchase, and the October 28 sale consists of three purses from the October 10 purchase and four purses from the October 20 purchase.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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.
Alexandra's Boutique uses a periodic inventory system.
Transactions
Beginning inventory
Sale
October 13
Purchase.
Sale
Purchase
October 20
October 28
Sale
October 30 Purchase
Date
October 1
October 4
October 10
Units Unit Cost
$820
830
TTT
840
850
Ending inventory
Cost of goods sold
6
4
5
3
4
7
8
Total Cost
$4,920
4,150
3,360
6,800
$19,230
Required:
1. Calculate ending inventory and cost of goods sold at October 31, using the specific identification method. The October 4 sale
consists of purses from beginning inventory, the October 13 sale consists of one purse from beginning inventory and two purses from
the October 10 purchase, and the October 28 sale consists of three purses from the October 10 purchase and four purses from the
October 20 purchase.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0ebc4bed-8807-46b4-839b-852d5415f405%2Fad58448f-d4c8-4b74-a263-f6bf54b6d686%2Fqcql225_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.
Alexandra's Boutique uses a periodic inventory system.
Transactions
Beginning inventory
Sale
October 13
Purchase.
Sale
Purchase
October 20
October 28
Sale
October 30 Purchase
Date
October 1
October 4
October 10
Units Unit Cost
$820
830
TTT
840
850
Ending inventory
Cost of goods sold
6
4
5
3
4
7
8
Total Cost
$4,920
4,150
3,360
6,800
$19,230
Required:
1. Calculate ending inventory and cost of goods sold at October 31, using the specific identification method. The October 4 sale
consists of purses from beginning inventory, the October 13 sale consists of one purse from beginning inventory and two purses from
the October 10 purchase, and the October 28 sale consists of three purses from the October 10 purchase and four purses from the
October 20 purchase.
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