! Required information [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. Units 6 Unit Cost $ 810 Total Cost $ 4,860 4,100 3,320 5,880 $ 18,160 Date October 1 October 4 October 10 October 13 October 20 October 28 October 30 Transactions Beginning inventory Ending inventory Cost of goods sold Sale Purchase Sale Purchase Sale Purchase $ $ 4 5 3 4 7 7 6,690 11,470 820 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31. 830 840
! Required information [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. Units 6 Unit Cost $ 810 Total Cost $ 4,860 4,100 3,320 5,880 $ 18,160 Date October 1 October 4 October 10 October 13 October 20 October 28 October 30 Transactions Beginning inventory Ending inventory Cost of goods sold Sale Purchase Sale Purchase Sale Purchase $ $ 4 5 3 4 7 7 6,690 11,470 820 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31. 830 840
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.]
Sara's Boutique has the following transactions related to its top-selling Gucci purse for the month of October.
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
6
4
6,690
11,470
5
3
4
7
7
Unit Cost
$810
820
830
840
3. Using LIFO, calculate ending inventory and cost of goods sold at October 31.
Total Cost
$ 4,860
4,100
3,320
5,880
$ 18,160](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F99d300c1-ef6d-42d8-9bcc-769c0ab0a414%2F57ed4814-a8dd-45da-9d48-053168363c38%2Fjxf52pp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:!
Required information
[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.
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
6
4
6,690
11,470
5
3
4
7
7
Unit Cost
$810
820
830
840
3. Using LIFO, calculate ending inventory and cost of goods sold at October 31.
Total Cost
$ 4,860
4,100
3,320
5,880
$ 18,160
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