Required information [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 October 4 October 10 October 13 October 20 October 28 October 30 Transactions Beginning inventory Sale Purchase Sale Purchase Sale Purchase inventory of goods sold Units. Unit Cost 6 $820 4 5 3 4 7 8 830 840 850 Total Cost $4,920 ng LIFO, calculate ending inventory and cost of goods sold at October 31. 4,150 3,360 6,800 $19,230
Required information [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 October 4 October 10 October 13 October 20 October 28 October 30 Transactions Beginning inventory Sale Purchase Sale Purchase Sale Purchase inventory of goods sold Units. Unit Cost 6 $820 4 5 3 4 7 8 830 840 850 Total Cost $4,920 ng LIFO, calculate ending inventory and cost of goods sold at October 31. 4,150 3,360 6,800 $19,230
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...
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Required information
[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
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 Unit Cost
6
$820
4
5
3
4
78
830
840
850
Total Cost
$4,920
3. Using LIFO, calculate ending inventory and cost of goods sold at October 31.
4,150
3,360
6,800
$19,230](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0ebc4bed-8807-46b4-839b-852d5415f405%2F2fbb829a-66a5-43aa-9b9a-d9b17b3b05d4%2F57vsd0m_processed.jpeg&w=3840&q=75)
Transcribed Image Text:!
Required information
[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
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 Unit Cost
6
$820
4
5
3
4
78
830
840
850
Total Cost
$4,920
3. Using LIFO, calculate ending inventory and cost of goods sold at October 31.
4,150
3,360
6,800
$19,230
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