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 $ 740 $ 4,440 October 4 Sale 4 October 10 Purchase 5 750 3,750 October 13 Sale 3 October 20 Purchase 4 760 3,040 October 28 Sale 7 October 30 Purchase 7 770 5,390 $ 16,620 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.)
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 $ 740 $ 4,440 October 4 Sale 4 October 10 Purchase 5 750 3,750 October 13 Sale 3 October 20 Purchase 4 760 3,040 October 28 Sale 7 October 30 Purchase 7 770 5,390 $ 16,620 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.)
Accounting
27th Edition
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Chapter7: Inventories
Section: Chapter Questions
Problem 7.2APR: LIFO perpetual inventory The beginning inventory at Midnight Supplies and data on purchases anti...
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Problem 6-1A Calculate ending inventory and cost of goods sold for four inventory methods (LO6-3)
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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 | $ | 740 | $ | 4,440 | |||||||||
October | 4 | Sale | 4 | |||||||||||||
October | 10 | Purchase | 5 | 750 | 3,750 | |||||||||||
October | 13 | Sale | 3 | |||||||||||||
October | 20 | Purchase | 4 | 760 | 3,040 | |||||||||||
October | 28 | Sale | 7 | |||||||||||||
October | 30 | Purchase | 7 | 770 | 5,390 | |||||||||||
$ | 16,620 | |||||||||||||||
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.)
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