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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
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 Guccl purse for the month of October. Sandra's Purse Boutique uses a perlodic inventory system. Date October 1 October 4 October 10 October 13 October 20 October 28 October 30 Transactions Units 6 Cost per Unit Total Cost $790 Beginning inventory Sale Purchase Sale Purchase Sale Purchase $4,740 4,000 3,240 6,560 $18,540 800 820 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 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31 Ending inventory Cost of goods sold 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at October 31. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Ending inventory Cost of goods sold
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