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. Date Transactions October 1 Beginning inventory October 4 Sale October 10 Purchase October 13 Sale Purchase October 20 October 28 Sale October 30 Purchase Ending inventory Cost of goods sold Units 6 4 5 3 4 7 6 Unit Cost $780 790 800 810 Total Cost $ 4,680 3,950 3,200 4,860 $ 16,690 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31.
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. Date Transactions October 1 Beginning inventory October 4 Sale October 10 Purchase October 13 Sale Purchase October 20 October 28 Sale October 30 Purchase Ending inventory Cost of goods sold Units 6 4 5 3 4 7 6 Unit Cost $780 790 800 810 Total Cost $ 4,680 3,950 3,200 4,860 $ 16,690 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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