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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.]
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 Date October 1 October 4 Transactions Beginning inventory Units Unit Cost Total Cost 6 $710 $ 4,260 Sale 4 October 10 October 13 Purchase 5 720 3,600 Sale 3 October 201 Purchase 4 730 2,920 October 28 Sale 7 October 30 Purchase 7 740 5,180 $15,960 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
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