Problem 6-1A Calculate ending inventory and cost of goods sold for four inventory methods (LO6-3) Sandras 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.

1 ! Required Information Problem 6-1A Calculate ending inventory and cost of goods sold for four inventory methods (L06-3) [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 6 Unit Cost $ 700 Total Cost $4,200 4 Date October 1 October 4 October 10 October 13 October 20 October 28 Transactions Beginning inventory Sale Purchase Sale Purchase 5 710 3,550 3 4 7 720 2,880 Sale October 30 Purchase 8 730 5,840 $16,470 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 2 Required Information Problem 6-1A Calculate ending inventory and cost of goods sold for four inventory methods (L06-3) [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 $700 Total Cost $4,200 6 4 Transactions Beginning inventory Sale Purchase Sale Purchase Sale 5 Date October 1 October 4 October 10 October 13 October 20 October 28 October 30 710 3,550 3 4 7 720 2,880 Purchase 8 730 5,840 $16,470 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 m. Required Information Problem 6-1A Calculate ending inventory and cost of goods sold for four inventory methods (L06-3) [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 6 Unit Cost $ 700 Total Cost $ 4,280 Beginning inventory Sale 4 Date October 1 October 4 October 18 October 13 October 20 October 28 5 710 3,55e 3 Purchase Sale Purchase Sale Purchase 720 2,880 4 7 October 30 8 730 5,840 $16,470 Problem 6-1A Part 3 3. Using LIFO.calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold 4 Required Information Problem 6-1A Calculate ending inventory and cost of goods sold for four inventory methods (L06-3) [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 6 Unit Cost $7ee Total Cost $ 4,200 4 Date October 1 October 4 October 10 October 13 October 20 October 28 710 Transactions Beginning inventory Sale Purchase Sale Purchase Sale Purchase 3,550 5 3 720 2,880 4 7 October 30 8 730 5,840 $16,470 Problem 6-1A Part 4 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at October 31. (Round your Intermediate and final answers to 2 decimal places.) Ending inventory Cost of goods sold