Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. required: find the answers that are below. to help

Required: Find the answers that are below. To help you check your work for the...

60.1K

Verified Solution

Question

Accounting

Required: Find the answers that are below. To help you check your work for the prob the ending inventory is below as well
1) Ending Inventory = $7,410
2) Ending Inventory = $7,430
3) Ending Inventory = $7,220
4) Ending Inventory = $7,324(rounded)
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.
Using FIFO, calculate ending inventory and cost of goods sold at October 31.
Using LIFO, calculate ending inventory and cost of goods sold at October 31.
Using weighted-average cost, calculate ending inventory and cost of goods sold at October 31.
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students