Chec Problem 6-1A Calculate ending inventory and cost of goods sold for four inventory methods (LO6-3) [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. Units Unit Cost Transactions Total Cost Date s 4,860 Beginning inventory Sale October 1 6 $810 October 4 4 October 10 Purchase 820 4,100 5 October 13 Sale October 20 Purchase 830 3,320 4 Sale Purchase October 28 7 5,880 October 30 840 7 $18,160 Problem 6-1A Part 1 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 Required information Problem 6-1A Calculate ending inventory and cost of goods sold for four inventory methods (LO6-3) [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. Transactions Units Unit Cost Total Cost Date $ 4,860 October 1 Beginning inventory 6 $810 Sale October 4 4 October 10 Purchase 820 5 4,100 October 13 Sale 3 October 20 Purchase 830 3,320 4 October 28 Sale 7 5,880 October 30 Purchase 840 7 $18,160 Problem 6-1A Part 2 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold