Vinu Bhai !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.DateOctober 1October 4October 10TransactionsBeginning inventoryUnits6Unit CostTotal Cost$780$4,680Sale4Purchase57903,950October 13Sale3October 20Purchase48003,200October 28Sale7October 30Purchase68104,860$16,6903. Using LIFO, calculate ending inventory and cost of goods sold at October 31.Ending inventoryCost of goods sold

Inventory includes all the items, merchandise, and raw materials that are used by the business…

! 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 Transactions Beginning inventory Units 6 Unit Cost Total Cost $780 $4,680 October 4 Sale 4 October 10 Purchase 5 790 3,950 October 13 Sale 3 October 20 Purchase 4 800 3,200 October 28 October 30 Sale 7 Purchase 6 810 4,860 $16,690 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31. 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 Transactions Beginning inventory Units 6 Unit Cost Total Cost $780 $4,680 October 4 Sale 4 October 10 Purchase 5 790 3,950 October 13 Sale 3 October 20 Purchase 4 800 3,200 October 28 October 30 Sale 7 Purchase 6 810 4,860 $16,690 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold

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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