Required information [The following information applies to the questions displayed below.] Sandra’s Purse Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sandra's Purse Boutique uses a periodic inventory system. Date Transactions Units Unit Cost Total Cost October 1 Beginning inventory 6 $ 790 $ 4,740 October 4 Sale 4 October 10 Purchase 5 800 4,000 October 13 Sale 3 October 20 Purchase 4 810 3,240 October 28 Sale 7 October 30 Purchase 8 820 6,560 $ 18,540 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31. Required information [The following information applies to the questions displayed below.] Sandra’s Purse Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sandra's Purse Boutique uses a periodic inventory system. Date Transactions Units Unit Cost Total Cost October 1 Beginning inventory 6 $ 790 $ 4,740 October 4 Sale 4 October 10 Purchase 5 800 4,000 October 13 Sale 3 October 20 Purchase 4 810 3,240 October 28 Sale 7 October 30 Purchase 8 820 6,560 $ 18,540 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at October 31. (Round your intermediate and final answers to 2 decimal places.)
Required information [The following information applies to the questions displayed below.] Sandra’s Purse Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sandra's Purse Boutique uses a periodic inventory system. Date Transactions Units Unit Cost Total Cost October 1 Beginning inventory 6 $ 790 $ 4,740 October 4 Sale 4 October 10 Purchase 5 800 4,000 October 13 Sale 3 October 20 Purchase 4 810 3,240 October 28 Sale 7 October 30 Purchase 8 820 6,560 $ 18,540 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31. Required information [The following information applies to the questions displayed below.] Sandra’s Purse Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sandra's Purse Boutique uses a periodic inventory system. Date Transactions Units Unit Cost Total Cost October 1 Beginning inventory 6 $ 790 $ 4,740 October 4 Sale 4 October 10 Purchase 5 800 4,000 October 13 Sale 3 October 20 Purchase 4 810 3,240 October 28 Sale 7 October 30 Purchase 8 820 6,560 $ 18,540 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at October 31. (Round your intermediate and final answers to 2 decimal places.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Required information
[The following information applies to the questions displayed below.]
Sandra’s Purse Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sandra's Purse Boutique uses a periodic inventory system.
| Date | Transactions | Units | Unit Cost | Total Cost | ||||||||||||
| October | 1 | Beginning inventory | 6 | $ | 790 | $ | 4,740 | |||||||||
| October | 4 | Sale | 4 | |||||||||||||
| October | 10 | Purchase | 5 | 800 | 4,000 | |||||||||||
| October | 13 | Sale | 3 | |||||||||||||
| October | 20 | Purchase | 4 | 810 | 3,240 | |||||||||||
| October | 28 | Sale | 7 | |||||||||||||
| October | 30 | Purchase | 8 | 820 | 6,560 | |||||||||||
| $ | 18,540 | |||||||||||||||
3. Using LIFO, calculate ending inventory and cost of goods sold at October 31.
Required information
[The following information applies to the questions displayed below.]
Sandra’s Purse Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sandra's Purse Boutique uses a periodic inventory system.
| Date | Transactions | Units | Unit Cost | Total Cost | ||||||||||||
| October | 1 | Beginning inventory | 6 | $ | 790 | $ | 4,740 | |||||||||
| October | 4 | Sale | 4 | |||||||||||||
| October | 10 | Purchase | 5 | 800 | 4,000 | |||||||||||
| October | 13 | Sale | 3 | |||||||||||||
| October | 20 | Purchase | 4 | 810 | 3,240 | |||||||||||
| October | 28 | Sale | 7 | |||||||||||||
| October | 30 | Purchase | 8 | 820 | 6,560 | |||||||||||
| $ | 18,540 | |||||||||||||||
4. Using weighted-average cost, calculate ending inventory and cost of goods sold at October 31. (Round your intermediate and final answers to 2 decimal places.)
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