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Calculate ending Inventory and cost of goods sold for four Inventory methods (L06-3) P6-1A Sandra's Purse Boutique has the following transactions related to its top-selling

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Calculate ending Inventory and cost of goods sold for four Inventory methods (L06-3) P6-1A Sandra's Purse Boutique has the following transactions related to its top-selling Gueci purse for the month of October Total Cost Unit Cost Date Units Transactions Beginning inventory Sale 6 $900 $5,400 4 5 3 910 October 1 October October 10 October 13 October 20 October 28 October 30 4,550 4 920 Purchase Sale Purchase Sale Purchase 3,680 7 7 930 6,510 $20,140 Required: 1. Calculate ending inventory and cost of goods sold at October 31, uning the specific identification method. The October 4 sale consists of purses from beginning investory, the October 13 sale consists of one puric 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 2. Using FIFO, calculate ending inventory and cont of goods sold at October 31 3. Uning LIFO, calculate ending inventory and cost of goods sold at October 31 4. Using weighted average cost, calculate ending inventory and cost of goods sold at October 31 Calculate ending Inventory, cost of goods sold, sales revenue and gross profit for four inventory methods 106-3, 6-4, 6-5) (P6-1A) 1) Ending Inventory = $7,410 2) Ending Inventory = $7,430 3) Ending Inventory = $7,220 4) Ending Inventory = $7,324 (rounded) Previous

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