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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
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. Date October 1 October 4 Transactions Units Unit Cost Beginning inventory 6 $770 Total Cost $ 4,620 Sale 4 October 10 October 13 October 20 Purchase 5 780 3,900 Sale 3 Purchase 4 790 3,160 October 28 October 30 Sale 7 Purchase 7 800 5,600 $17,280 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold
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