Fill This Form To Receive Instant Help
Fill This Form To Receive Instant Help
Homework answers / question archive / Sandra's Purse Boutique has the following transactions related to its top-selling Gucci purse for the month of October
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
October1 Beginning inventory 6 $820 $4,920
October4 Sale 4
October10 Purchase 5 830 4,150
October13 Sale 3
October20 Purchase 4 40 3,360
October28 Sale 7
October30 Purchase 8 850 6,800
$19,230
2. Using FIFO, calculate ending inventory and cost of goods sold at October 31.
Ending INventory:
Costs of goods sold:
