Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ! required information [the following information

! Required information [The following information applies to the questions displayed below.] Sandra's Purse Boutique...

50.1K

Verified Solution

Question

Accounting

image

! Required information [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. Unit Cost $ 860 Total Cost $ 5,160 870 Date October 1 October 4 October 10 October 13 October 20 October 28 October 30 4,350 Transactions Beginning inventory Sale Purchase Sale Purchase Sale Purchase Units 6 4 5 3 4 7 6 880 3,520 890 5,340 $18,370 Required: 1. 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. Ending inventory Cost of goods sold $ 7,090

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

Physics
1.2K views

2 3 ct Answer 1 Answer 4 E incorrect 21 21 21 10 to Bookmark...

Physics
1.2K views

The plane wall of an oven is of thickness L 0 05 m and is...

Basic Math
1.2K views

In an orchestra 21 people can play stringed instruments 17 can play brass and 14...

Basic Math
1.2K views

Solve the triangle a 8 b 6 C 70 CO 6 A C Round to...

Statistics
1.2K views

during the fall and Spring semesters If there are 197 full time teaching positions available...

Accounting
1.2K views

A company has the following unadjusted account balances at...

Accounting
1.2K views

boch Show Me How Prir han Dividends on Preferred and Common Stock Pecan Theatre Inc,...

Accounting
1.2K views

Under section 85, what happens if the FMV of the assets transferred does not equal...

Accounting
1.2K views

What was the total manufacturing cost assigned to Job P? (Do not round intermediate calculations.)...

Accounting
1.2K views

help35 The units of Manganese Plus available for sale during the...

Accounting
1.2K views

Required information (The following information applies to the questions displayed below.) Sun Corporation received a...

Finance
1.2K views

If Lews Steel Forms purchases $668,000 of new equipment, they can lower annual operating costs...