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Required information [The following information applies to the questions displayed below.] Alexandra's Boutique has the...

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Accounting

Required information

[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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