Question
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.
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 Transactions October 1 Beginning inventory October 4 Sale October 10 Purchase October 13 Sale October 20 Purchase October 28 October 30 Sale Purchase Units 6 Unit Cost $880 Total Cost $5,280 4 5 890 4,450 3 4 900 3,600 7 8 910 7,280 $20,610 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold
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Financial Accounting
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
3rd edition
9780077506902, 78025540, 77506901, 978-0078025549
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