[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.TransactionsBeginning inventorySalePurchaseSalePurchaseSalePurchaseDateOctober 1October 4October 10October 13October 20October 28October 30Ending inventoryCost of goods soldUnits Unit Cost6$ 7402,9805,210:34775553750760770Total Cost$ 4,4403,7503,040Required:1. Calculate ending inventory and cost of goods sold at October 31, using the specific identification method. The October 4 saleconsists of purses from beginning inventory, the October 13 sale consists of one purse from beginning inventory and two purses fromthe October 10 purchase, and the October 28 sale consists of three purses from the October 10 purchase and four purses from theOctober 20 purchase.5,390$ 16,620---

Name: [The following information applies to the questions displayed below.]
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: [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.TransactionsBeginning inventorySalePurchaseSalePurchaseSalePurchas

Cost of goods sold -The expenses that are specifically linked to the creation of goods and services…

Business

Accounting

The lonOWINE me Brianna's BOL Date October 1 October 4 October 10 October 13 October 20 October 28 October 30 Required: 1. Calculate ending consists of purses the October 10 pur October 20 purcha Ending inventory Cost of goods sold

The lonOWINE me Brianna's BOL Date October 1 October 4 October 10 October 13 October 20 October 28 October 30 Required: 1. Calculate ending consists of purses the October 10 pur October 20 purcha Ending inventory Cost of goods sold

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

hh.2
Please do not give solution in image format thanku
Date Oct. 1 Oct. 9 Oct. 17 Oct. 11 Sale Oct. 22 Oct. 25 Description Beginning inventory Purchase (a1) Purchase Sale Purchase Oct.29 Sale Units 70 125 95 95 70 80 105 Unit Cost or Selling Price $26 Weighted-average cost per unit $ 28 40 29 45 31 45 Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.) 11₁ SI
Please get everything correct and have the answers in a box so I’ll know where to key it in
Now record the cost of the putters sold on the 6th. Date Nov. 6 Accounts and Explanation Cost of Goods Sold Merchandise Inventory To record the cost of goods sold. Debit Credit
of 2 Book Hint Ask F erences Ac raw ill Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Date January 1 January 9 Total January 9 January 25 Total January 25 January 26 Total January 26 Goods purchased Number Number of Cost per of units Cost per Cost of Goods Number of units unit unit sold Sold units 80 at $3.20 100 at $ 3.34 Perpetual LIFO: Cost of Goods Sold 100 at 80 at at wwwwww $ 3.00 = $ 3.20 = at $ 3.00 = at $ 3.20 = at $ 3.34 = delete Inventory Balance $ $ 960 256 $1,216 $ 960 $ 960 256 334 1,550 home 7:0 9/29
Rey
pr.2
Problem 1 of 2 (note additional problem below): Calculate the cost of goods sold dollar value and the value of ending inventory for En Cee Yo0 Company for the sale on March 11, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for (a) first-in, first-out (FIFO); (b) last-in, first-out (LIF0); and (c) weighted average (AVG). You must show your work and calculations--answers that are correct but do not show calculations are graded as a zero grade. Place your answers in the shaded cells. Number of Units Unit Cost 110 $ Beginning inventory, March 1 Purchased inventory, March 8 86 140 $ 90 Sold inventory for $110 per unit, March 11 95 If you use the FIFO method, the dollar value of COGS is → and the dollar value of ending inventory is- If you use the LIFO method, the dollar value of COGS is - and the dollar value of ending inventory is- If you use the Weighted Average method, the dollar value of…
Please do not give solution in image format thanku
Please do not give solution in image format thanku
Please do not give solution in image format thanku