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. Date October 1 Transactions Units Unit Cost Beginning inventory October 4 Sale October 10 Purchase October 13 Sale October 20 October 28 Purchase Sale October 30 Purchase 64534700 $ 850 Total Cost $ 5,100 860 4,300 870 3,480 8 880 7,040 $19,920 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. Date Transactions Units October 1 Beginning inventory 6 Unit Cost $850 Total Cost $ 5,100 October 4 Sale October 10 Purchase October 13 Sale October 20 Purchase October 28 Sale October 30 Purchase 4534700 860 4,300 870 3,480 8 880 7,040 $19,920 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 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. Date October 1 Transactions Beginning inventory Units Unit Cost 6 $ 850 Total Cost $ 5,100 October 4 Sale 4 October 10 Purchase 5 860 4,300 October 13 Sale 3 October 20 Purchase 4 870 3,480 October 28 Sale 7 October 30 Purchase 8 880 7,040 $19,920 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 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. Date October 1 Transactions Beginning inventory October 4 Sale October 10 Purchase October 13 Sale October 20 Purchase October 28 Sale October 30 Purchase Units Unit Cost Total Cost 6 $ 850 $ 5,100 453470 860 4,300 870 3,480 880 7,040 $19,920 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