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Required information Skip to question [The following information applies to the questions displayed below.] Sandras Purse Boutique has the following transactions related to its top-selling
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[The following information applies to the questions displayed below.] 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.
Date | Transactions | Units | Unit Cost | Total Cost | ||||||||||||
October | 1 | Beginning inventory | 6 | $ | 700 | $ | 4,200 | |||||||||
October | 4 | Sale | 4 | |||||||||||||
October | 10 | Purchase | 5 | 710 | 3,550 | |||||||||||
October | 13 | Sale | 3 | |||||||||||||
October | 20 | Purchase | 4 | 720 | 2,880 | |||||||||||
October | 28 | Sale | 7 | |||||||||||||
October | 30 | Purchase | 8 | 730 | 5,840 | |||||||||||
$ | 16,470 | |||||||||||||||
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 enventory?
cost of good sold?
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