Required information [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 $ 780 Total Cost $ 4,680 Date October 1 October 4 October 10 October 13 October 20 October 28 October 30 790 3,950 Transactions Beginning inventory Sale Purchase Sale Purchase Sale Purchase 800 3,200 810 4,860 $16,690 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 [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 $ 780 Total Cost $ 4,680 790 3,950 Date October 1 October 4 October 10 October 13 October 20 October 28 October 30 Transactions Beginning inventory Sale Purchase Sale Purchase Sale Purchase 800 3,200 4,860 $16,690 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold Required information [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 $780 Total Cost $ 4,680 790 3,950 Date October 1 October 4 October 10 October 13 October 20 October 28 October 30 Transactions Beginning inventory Sale Purchase Sale Purchase Sale Purchase in mo 3,200 4,860 $16,690 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold Required information [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 $ 780 Total Cost $ 4,680 Date October 1 October 4 October 10 October 13 October 20 October 28 October 30 Transactions Beginning inventory Sale Purchase Sale Purchase Sale Purchase 3,950 in mo 790 800 3,200 4,860 $16,690 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
