Required information[The following information applies to the questions displayed below.]Brianna's Boutique has the following transactions related to its top-selling Gucci purse for the month of October.DateOctober 1October 4October 10TransactionsBeginning inventory.SalePurchaseSaleOctober 13October 20October 28October 30PurchaseSalePurchaseUnits Unit Cost$860Ending inventoryCost of goods sold6453476870880890Total Cost$5,1604,3503,5205,340$ 18,3702. Using FIFO, calculate ending inventory and cost of goods sold at October 31.

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Description: Required information[The following information applies to the questions displayed below.]Brianna's Boutique has the following transactions related to its top-selling Gucci purse for the month of October.DateOctober 1October 4October 10TransactionsBe

The Inventory valuation methods are as fallowsA) The first in first out method states that units…

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Required information [The following information applies to the questions displayed below.] Brianna's Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Date October 1 October 4 Transactions Beginning inventory Sale October 10 Purchase October 13 Sale October 20 October 28 October 30 Purchase Sale Purchase Ending inventory Cost of goods sold Units Unit Cost 6 $860 4 870 5 3 4 7 6 880 890 Total Cost $5,160 4,350 3,520 5,340 $ 18,370 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.] Brianna's Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Date October 1 October 4 Transactions Beginning inventory Sale October 10 Purchase October 13 Sale October 20 October 28 October 30 Purchase Sale Purchase Ending inventory Cost of goods sold Units Unit Cost 6 $860 4 870 5 3 4 7 6 880 890 Total Cost $5,160 4,350 3,520 5,340 $ 18,370 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31.

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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Required information Skip to question [The following information applies to the questions displayed below.]Sara's Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sara's Boutique uses a periodic inventory system. Date Transactions Units Unit Cost Total Cost October 1 Beginning inventory 6 $810 $4,860 October 4 Sale 4 October 10 Purchase 5 820 4,100 October 13 Sale 3 October 20 Purchase 4 830 3,320 October 28 Sale 7 October 30 Purchase 7 840 5,880 $18,160 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31.
Required information Skip to question [The following information applies to the questions displayed below.]Sara's Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sara's Boutique uses a periodic inventory system. Date Transactions Units Unit Cost Total Cost October 1 Beginning inventory 6 $810 $4,860 October 4 Sale 4 October 10 Purchase 5 820 4,100 October 13 Sale 3 October 20 Purchase 4 830 3,320 October 28 Sale 7 October 30 Purchase 7 840 5,880 $18,160 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at October 31. (Round your intermediate calculations to 4 decimal places and final answers to 2 decimal places.)
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please help me and solve this with working , explanation ,formula thanks