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this is a 4 part question Required Information (The following information applies to the questions displayed below) Sandra's Purse Boutique has the following transactions related
this is a 4 part question
Required Information (The following information applies to the questions displayed below) Sandra's Purse Boutique has the following transactions related to its top-selling Gucci purse for the month of October Sandra's Purse Boutique uses a periodic inventory system Date Transactions unts It Cost Total cost October 1 beginning inventory 6 5310 $4,860 October 4 Sale 4 October 10 Purchase 5 820 4,100 October 13 Sale October 20 Purchase 3,120 October 20 Sale 7 October 30 Purchase 5.810 $18,160 140 Required: 1. Calculate ending Inventory and cost of goods sold at October 31, using the specific identification method. The October 4 sale consists of purses from beginning inventory, the October 13 sale consists of one purse from beginning inventory and two purses from the October 10 purchase, and the October 28 sale consists of three purses from the October 10 purchase and four purses from the October 20 purchase a Ending inventory Cost of goods sold Required information (The following Information applies to the questions displayed below] Sandra's Purse Boutique has the following transactions related to its top-selling Gucel purse for the month of October Sandra's Purse Boutique uses a periodic Inventory system. Transactions Units Total Cost October 1 Deginning Inventory 6 $810 $ 4,860 October 4 Date Unit Cost 820 4.100 October 10 October 13 October 2e October 28 October 30 Sale Purchase Sale Purchase Sale Purchase 4 5 3 4 7 7 Bje 2.120 340 Este 2. Using FIFO, calculate ending Inventory and cost of goods sold at October 31, Ending inventory Cost of goods sold Required Information [The following information applies to the questions displayed below) Sandra's Purse Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sandra's Purse Boutique uses a periodic Inventory system Units Unit Cost 5810 Total Cost $4,860 5 Date October 1 October 4 October le October 13 October 20 October 28 October 30 Transactions Beginning Inventory Sale Purchase Sale Purchase Sale Purchase 820 4,100 4 B 3.320 340 5.880 $18,160 3. Using LIFO, calculate ending Inventory and cost of goods sold at October 31 Ending inventory Cost of goods sold Required Information The following information applies to the questions displayed below) Sandra's Purse Boutique has the following transactions related to its top-colling Gucclourse for the month of October Sandra's Purse Boutique uses a periodic inventory system. Date Transactions Units Unit Cost Total October 1 Beginning inventory 6 $ 810 $ 4, October 4 Sale October 10 Purchase 4.16 October 1 Sale October 20 Purchase B30 120 October 28 Sale October 30 Purchase 540 30 4. Using weighted average cost, calculate ending Inventory and cost of goods sold st October 31 (Round your intermediate and final answers to 2 decimal places.) Ending inventory Cost of goods sold Step by Step Solution
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