Question

someone that can help please .

Check my work mode: This shows what is correct or incorrect for the work you have completed so far does Required information The following information applies to the questions displayed below) Sandra's Purse Boutique has the following transactions related to its top-selling Guccurs for the month of October Sandra's Purse Boutique uses a periodic inventory system Units Unit Cost Total cost October October 4 October 10 October 13 October 20 October 2 October Transactions Beginning inventory Sale Purchase Sale Purchase Purchase October 31 3. Using UFO, calculate ending inventory and cost of goods sold Answer is complete but not entirely correct. * Ned> 9 MOC

Answer 1

Answer to Requirement 1.

Units available for sale = Beginning Inventory + Units purchased
Units purchased = 5 + 4 + 7 = 16 Units
Units available for sale = 6 + 16 = 22 Units

Units Sold = 4 + 3 + 7 = 14 Units

Cost of Goods Sold = (7 * $770) + (4 * $760) + (3 * $750)
Cost of Goods Sold = $5,390 + $3,040 + $2,250
Cost of Goods Sold = $10,680

Cost of Ending Inventory = Cost of Goods available for Sale – Cost of Goods Sold
Cost of Ending Inventory = $16,620 - $10,680
Cost of Ending Inventory = $5,940

Answer to Requirement 2.

Weighted Average Cost per Unit = Cost of Goods available for Sale / Units available for Sale
Weighted Average Cost per Unit = $16,620 / 22
Weighted Average Cost per Unit = $755.45

Cost of Goods Sold = Weighted Average Cost per Unit * Units Sold
Cost of Goods Sold = $755.45 * 14
Cost of Goods Sold = $10,576.30

Cost of Ending Inventory = Cost of Goods available for Sale – Cost of Goods Sold
Cost of Ending Inventory = $16,620 - $10,576.30
Cost of Ending Inventory = $6,043.70