Note:- Please don't simply copy and paste content from other AI tools or bots, or else I may have to downvote your actions.Do not provide the handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely. !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.TransactionsBeginning inventorySaleOctober 13Purchase.SalePurchaseOctober 20October 28SaleOctober 30 PurchaseDateOctober 1October 4October 10Units Unit Cost$820830TTT840850Ending inventoryCost of goods sold6453478Total Cost$4,9204,1503,3606,800$19,230Required:1. Calculate ending inventory and cost of goods sold at October 31, using the specific identification method. The October 4 saleconsists of purses from beginning inventory, the October 13 sale consists of one purse from beginning inventory and two purses fromthe October 10 purchase, and the October 28 sale consists of three purses from the October 10 purchase and four purses from theOctober 20 purchase.

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Description: Note:- Please don't simply copy and paste content from other AI tools or bots, or else I may have to downvote your actions.Do not provide the handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completel

Specific identification method is one of the method used for inventory management. Under this,…

Business

Accounting

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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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