Required information [The following information applies to the questions displayed below.] Alexandra's Boutique has the...
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[The following information applies to the questions displayed below.]
Alexandra's Boutique has the following transactions related to its top-selling Gucci purse for the month of October.
Alexandra's Boutique uses a periodic inventory system.
| Date | Transactions | Units | Unit Cost | Total Cost |
| October 1 | Beginning inventory | 6 | $850 | $5,100 |
| October 4 | Sale | |||
| October 10 | Purchase | 860 | 4, 300 | |
| October 13 | Sale | 45047 | ||
| October 20 | Purchase | 870 | 3,480 | |
| October 28 | Sale | |||
| October 30 | Purchase | 8 | 880 | 7,040 |
| $19,920 |
3. Using LIFO, calculate ending inventory and cost of goods sold at October 31.
Ending inventory:
Cost of goods sold:
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