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 October 1 October 4. October 10 October 13 October 201 October 28 October 30 Transactions Beginning inventory Sale Purchase Sale Purchase Sale Purchase: Units Unit Cost 6 $720 4 5 730 3 4 7 740 750 Total Cost $4,320 3,650 2,960 4,500 $15,430 . Using weighted-average cost, calculate ending inventory and cost of goods sold at October 31. (Round your mediate calculations to 4 decimal places and final answers to 2 decimal places.)

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 October 1 October 4. October 10 October 13 October 201 October 28 October 30 Transactions Beginning inventory Sale Purchase Sale Purchase Sale Purchase: Units Unit Cost 6 $720 4 5 730 3 4 7 740 750 Total Cost $4,320 3,650 2,960 4,500 $15,430 . Using weighted-average cost, calculate ending inventory and cost of goods sold at October 31. (Round your mediate calculations to 4 decimal places and final answers to 2 decimal places.)

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Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

Problem 4PA: The beginning inventory for Funky Party Supplies and data on purchases and sales for a three-month...

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Jessie Stores uses the periodic system of calculating inventory. The following information is available for December of the current year when Jessie sold 500 units of inventory. Using the FIFO method, calculate Jessies inventory on December 31 and its cost of goods sold for December.
The beginning inventory for Funky Party Supplies and data on purchases and sales for a three-month period are shown in Problem 7-1A. Instructions 1. Determine the inventory on March 31, 2016, and the cost of goods sold for the three-month period, using the first-in, first-out method and the periodic inventory system. 2. Determine the inventory on March 31, 2016, and the cost of goods sold for the three-month period, using the last-in, first-out method and the periodic inventory system. 3. Determine the inventory on March 31, 2016, and the cost of goods sold for the three-month period, using the weighted average cost method and the periodic inventory system. Round the weighted average unit cost to the nearest cent. 4. Compare the gross profit and the March 31, 2016, inventories, using the following column headings:
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