[The following information applies to the questions displayed below.] Alexandra's Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Alexandra's Boutique uses a periodic inventory system. Date October 1 Transactions Beginning inventory October 4 Sale October 10 Purchase October 13 Sale October 20 Purchase October 28 Sale October 30 Purchase Units 6 Unit Cost $850 Total Cost $5,100 453478 860 4,300 870 3,480 880 7,040 $19,920 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31.

[The following information applies to the questions displayed below.] Alexandra's Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Alexandra's Boutique uses a periodic inventory system. Date October 1 Transactions Beginning inventory October 4 Sale October 10 Purchase October 13 Sale October 20 Purchase October 28 Sale October 30 Purchase Units 6 Unit Cost $850 Total Cost $5,100 453478 860 4,300 870 3,480 880 7,040 $19,920 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 10RE: Jessie Stores uses the periodic system of calculating inventory. The following information is...

See similar textbooks

Similar questions

[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 Transactions Beginning inventory October 4 Sale October 10 Purchase October 13 Sale October 20 Purchase October 28 October 30 Sale Purchase Units 6 Unit Cost Total Cost $800 $4,800 4 5 810 4,050 B 4 820 3,280 7 6 830 4,980 $17,110 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold
[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 October 1 Beginning inventory October 4 October 10 October 13 October 20 October 28 October 30 Transactions Ending inventory Cost of goods sold Sale Purchase Sale Purchase Sale Purchase Units Unit Cost $ 720 6 4 5 3 4 7 6 730 740 750 Total Cost $ 4,320 3,650 2,960 4,500 $15,430 Required: 1. Calculate ending inventory and cost of goods sold at October 31, using the specific identification method. The October 4 sale consists of purses from beginning inventory, the October 13 sale consists of one purse from beginning inventory and two purses from the October 10 purchase, and the October 28 sale consists of three purses from the October 10 purchase and four purses from the October 20 purchase.
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. Calculate ending inventory and cost of goods sold at October 31, using the specific identification method. The October 4 sale consists of purses from beginning inventory, the October 13 sale consists of one purse from beginning inventory and two purses from the October 10 purchase, and the October 28 sale consists of three purses from the October 10 purchase and four purses from the October 20 purchase. Date Transactions Units Unit Cost Total Cost October 1 Beginning inventory 6 $ 850 $ 5,100 October 4 Sale 4 October 10 Purchase 5 860 4,300 October 13 Sale 3 October 20 Purchase 4 870 3,480 October 28 Sale 7 October 30 Purchase 8 880…
please answer this with must explanation , computation , for each steps and each parts answer in text form
[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 $ 5,400 October 1 October 4 October 10 October 13 October 20 October 28 Beginning inventory Sale Purchase $900 4 5 910 4,550 Sale Purchase Sale 920 3,680 7 930 6,510 $20,140 October 30 Purchase 7 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.) X Answer is complete but not entirely correct. Ending inventory $ 6,713.00 X Cost of goods sold $ 13,426.00 X
[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. Transactions Beginning inventory Sale Purchase Sale Purchase Sale Purchase Date October 1 October 4 October 10 October 13 October 20 October 28 October 30 Ending inventory Cost of goods sold Units Unit Cost 6 $ 740 2,980 5,210: 34775553 750 760 770 Total Cost $ 4,440 3,750 3,040 Required: 1. Calculate ending inventory and cost of goods sold at October 31, using the specific identification method. The October 4 sale consists of purses from beginning inventory, the October 13 sale consists of one purse from beginning inventory and two purses from the October 10 purchase, and the October 28 sale consists of three purses from the October 10 purchase and four purses from the October 20 purchase. 5,390 $ 16,620 ---
Dhapa
Use the following information for the Quick Study below. (Algo) (11-14) [The following information applies to the questions displayed below.] Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a perpetual inventory system. Also, on December 15, Monson sells 15 units for $28 each. Total Purchases on December 7 Purchases on December 14 Purchases on December 21 QS 6-14 (Algo) Perpetual: Inventory costing with specific identification LO P1 Of the units sold, 8 are from the December 7 purchase and 7 are from the December 14 purchase. Determine the costs assigned to ending inventory when costs are assigned based on specific identification. Purchases: December 7 December 14 December 21 # of units Goods Available for Sale 10 20 15 45 10 units @ $14.00 cost 20 units @ $20.00 cost 15 units @ $22.00 cost Cost per unit $14.00 20.00 22.00 Specific Identification Cost of Goods Available for Sale $ $ 140 400 330 870 Cost of…
Use the following information for the Quick Study below. (Algo) (11-14) [The following information applies to the questions displayed below.] Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a perpetual inventory system. Also, on December 15, Monson sells 15 units for $32 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $18.00 cost 20 units @ $24.00 cost 15 units @ $26.00 cost QS 5-11 (Algo) Perpetual: Assigning costs with FIFO LO P1 Required: Determine the costs assigned to the December 31 ending inventory based on the FIFO method.
i need the answer quickly
Visano
s