UTER Wich apter 6 Exercises Saved He 1 Problem 6-1A Calculate ending inventory and cost of goods sold for four inventory methods (LO6-3) [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, t1 of 4 Unit Cost $730 Total Cost $ 4,380 ts 740 Date October 1 October 4 October 10 October 13 October 20 October 28 October 30 Units 6 4 5 3 4 7 8 3,700 Transactions Beginning inventory Sale Purchase Sale Purchase Sale Purchase Skipped 750 3,000 760 6.089 $17,160 eBook Print eferences Problem 6-1A Part 1 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. Ending inventory Cost of goods sold aw Saved -14 Required information Problem 6-1A Calculate ending inventory and cost of goods sold for four inventory methods (L06-3) [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 Units Unit Cost Total Cost October 1 Beginning inventory 6 $730 $ 4,380 October 4 Sale 4 October 10 Purchase 5 740 3,700 October 13 Sale October 20 Purchase 4 3,000 October 28 Sale October 30 Purchase 760 6,080 $17,160 3 750 7 8 ces Problem 6-1A Part 2 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31, Ending inventory Cost of goods sold 2 3 of 22 UIC QUESTIONS Uisplayed below. Sandra's Purse Boutique has the following transactions related to its top-selling Gucci purse for them Sandra's Purse Boutique uses a periodic inventory system. of 4 Total Cost $ 4,380 Date October 1 October 4 October 10 October 13 October 20 October 28 October 30 Transactions Beginning inventory Sale Purchase Sale Purchase Sale Purchase Units Unit Cost 6 $730 4 5 3 4 750 7 8 760 740 3,700 3,000 ok 6,080 $17, 160 ces Problem 6-1A Part 3 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold S B *** Wout bed Help 14 [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 Units Unit Cost October 1 Beginning inventory Total Cost 6 October 4 $738 $ 4,380 Sale 4 October 10 Purchase 5 3,700 October 13 Sale October 20 Purchase 750 3,000 October 28 Sale 7 October 38 Purchase 760 6,888 $17,160 748 3 8 os Problem 6-1A Part 4 4. Using weighted average cost, calculate ending inventory and cost of goods sold at October 31. (Round your intermediate and final answers to 2 decimal places.) Ending inventory Cost of goods sold
