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 October 1 Beginning inventory Units 6 Unit Cost Total Cost $760 $4,560 October 4 Sale 4 October 10 Purchase 5 770 3,850 October 13 Sale 3 October 20 Purchase 4 780 3,120 October 28 October 30 Sale 7 Purchase 8 790 6,320 $17,850 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold

Q: Describe about the LIFO and FIFO method.

A:

Q: Explain IO and PO Strips?

A: Interest only (IO) strips are a financial product shaped by unraveling the principal and interest…

Q: When are data in 3NF?

A:

Q: What are IO and PO strips?

A: Mortgage-backed securities: The financial instruments intended in raising investment which is…

Q: Define terminal value

A: Terminal value is the value of the project or the security at the end of a specified future date.…

Q: the difference between a W-4 form and W-2 form.

A: Form W-4: Employee’s withholding allowance certificate. This form is filled by employees for their…

Q: Describe the PW method?

A: There are different types of methods for comparing the worthiness of the projects. Some of the tem…

Q: Identify the gragh?

A: Part a: Total direct material cost increases or decreases in direct proportion to change in activity…

Q: Vhhhbbbbbbbnn

A:

Q: How is RI calculated?

A:

Q: Mamuțelerăit puiul de om

A: Mowgli, the human cub found by the wolves in 'The Jungle Book', is described as a very small and…

Q: dgdfdgdhfgff

A: It looks like your message might have been incomplete or accidentally sent. How can I assist you…

Q: Define value drivers

A: Introduction: Value drivers are related to concept of free cash flow valuation model. This helps the…

Q: im having trouble with vlookup in excel

A: Type Vlookup in the formula bar of excel sheet.

Q: Define agent

A: Introduction: An agent is a party that has oral or written authority to perform for another…

Q: Whatisthedifferencebetweensimpleinterestandcompoundinterest?

A: Interest: Interest is the amount of interest paid on the issue price of the notes by the issuer at…

Q: Define characteristic line

A: Characteristic line is a graphical representation of alpha (α) where alpha is the difference between…

Q: A $385,000 house is to be purchased for 25% down and monthly payments of $1200 for as long as…

A: PV is the current worth of cash flows that are expected to occur in the future.

Q: Describe the features of JIT.

A:

Q: What is skimming?

A: Skimming: It is the fraudulent process under which the employees of the company steal the cash from…

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.