! 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. Brianna'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 $740 4 5 3 4 7 7 750 760 770 Total Cost $4,440 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31. 3,750 3,040 5,390 $16,620
! 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. Brianna'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 $740 4 5 3 4 7 7 750 760 770 Total Cost $4,440 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31. 3,750 3,040 5,390 $16,620
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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. Brianna'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
$740
4
5
3
4
7
7
750
760
770
Total Cost
$4,440
3. Using LIFO, calculate ending inventory and cost of goods sold at October 31.
3,750
3,040
5,390
$16,620](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5c3e332c-b8c2-4ed0-b345-1626c419d852%2Febfaf309-564b-46ff-a525-bfd31361803c%2Fgekh4a_processed.png&w=3840&q=75)
Transcribed Image Text:!
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. Brianna'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
$740
4
5
3
4
7
7
750
760
770
Total Cost
$4,440
3. Using LIFO, calculate ending inventory and cost of goods sold at October 31.
3,750
3,040
5,390
$16,620
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