Required informationSkip to question [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 TransactionsUnits Unit Cost Total CostOctober1 Beginning inventory 6 $870 $5,220 October4 Sale 4 October10 Purchase 5 880 4,400 October13 Sale 3 October20 Purchase 4 890 3,560 October28 Sale 7 October30 Purchase 7 900 6,300 $19,480 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.)

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Description: Required informationSkip to question [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

Inventory means the stock of goods in hand . Goods means the thing in which the business deals and…

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Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter5: Inventories And Cost Of Goods Sold

Section: Chapter Questions

Problem 5.11E: Inventory Costing Methods VanderMeer Inc. reported the following information for the month of...

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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		$	870	$	5,220
October	4		Sale	4
October	10		Purchase	5			880		4,400
October	13		Sale	3
October	20		Purchase	4			890		3,560
October	28		Sale	7
October	30		Purchase	7			900		6,300
								$	19,480

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.)

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