S Sara's Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Unit Cost $ 730 740 750 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 6 4 5 3 4 7 8 760 Total Cost $ 4,380 3,700 3,000 6,080 $ 17,160 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31.
S Sara's Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Unit Cost $ 730 740 750 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 6 4 5 3 4 7 8 760 Total Cost $ 4,380 3,700 3,000 6,080 $ 17,160 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 67APSA: Inventory Costing Methods Andersons Department Store has the following data for inventory,...
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Required information
[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.
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
$ 730
4
+53.
5
3
4
7
- 00
8
740
750
760
Total Cost
$ 4,380
3,700
3,000
6,080
$ 17,160
3. Using LIFO, calculate ending inventory and cost of goods sold at October 31.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F508ea9c4-9789-4f1c-b0df-20ed928eebbb%2Fa3afff44-9569-40aa-90ee-d2c163152787%2F34jzbbq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:es
!
Required information
[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.
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
$ 730
4
+53.
5
3
4
7
- 00
8
740
750
760
Total Cost
$ 4,380
3,700
3,000
6,080
$ 17,160
3. Using LIFO, calculate ending inventory and cost of goods sold at October 31.
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