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Brianna's Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Brianna's Boutique uses a periodic inventory system. Date
Brianna's Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Brianna's Boutique uses a periodic inventory system.
Date | Transactions | Units | Unit Cost | Total Cost |
---|---|---|---|---|
October 1 | Beginning inventory | 6 | $770 | $4,620 |
October 4 | Sale | 4 | ||
October 10 | Purchase | 5 | 780 | 3,900 |
October 13 | Sale | 3 | ||
October 20 | Purchase | 4 | 790 | 3,160 |
October 28 | Sale | 7 | ||
October 30 | Purchase | 7 | 800 | 5,600 |
$17,280 |
2. Using FIFO, calculate ending inventory and cost of goods sold at October 31.
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