None Required informationProblem 6-1A (Algo) Calculate ending inventory and cost of goods sold for four inventory methods (LO6-3)[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. Sara'sBoutique uses a periodic inventory system.DateTransactionsUnitsUnit CostTotal CostOctober 1Beginning inventoryOctober 4SaleOctober 10PurchaseOctober 13SaleOctober 20PurchaseOctober 28SaleOctober 30Purchase6453477$840$5,04058504,2508603,4408706,090$18,820Problem 6-1A (Algo) Part 44. Using weighted-average cost, calculate ending inventory and cost of goods sold at October 31. (Round your intermediatecalculations to 4 decimal places and final answers to 2 decimal places.)Ending inventoryCost of goods sold

Inventory valuation is based on the method of flow used by the organization. It can be the first in…

Required information Problem 6-1A (Algo) Calculate ending inventory and cost of goods sold for four inventory methods (LO6- 3) [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. Sara's Boutique uses a periodic inventory system. Date Transactions October 1 Beginning inventory Units 6 Unit Cost Total Cost $840 $5,040 October 4 Sale 4 October 10 Purchase 5 850 4,250 October 13 Sale 3 October 20 Purchase 4 860 3,440 October 28 October 30 Sale 7 Purchase 7 870 6,090 $18,820 Problem 6-1A (Algo) Part 4 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at October 31. (Round your intermediate calculations to 4 decimal places and final answers to 2 decimal places.) Ending inventory Cost of goods sold

Required information Problem 6-1A (Algo) Calculate ending inventory and cost of goods sold for four inventory methods (LO6- 3) [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. Sara's Boutique uses a periodic inventory system. Date Transactions October 1 Beginning inventory Units 6 Unit Cost Total Cost $840 $5,040 October 4 Sale 4 October 10 Purchase 5 850 4,250 October 13 Sale 3 October 20 Purchase 4 860 3,440 October 28 October 30 Sale 7 Purchase 7 870 6,090 $18,820 Problem 6-1A (Algo) Part 4 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at October 31. (Round your intermediate calculations to 4 decimal places and final answers to 2 decimal places.) Ending inventory Cost of goods sold

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 11RE: Jessie Stores uses the periodic system of calculating inventory. The following information is...

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