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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
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 Transactions Beginning inventory Units Unit Cost Total Cost 6 $ 900 $ 5,400 October 4 Sale 4 October 10 October 13 Purchase 5 910 4,550 Sale 3 October 20 Purchase 4 920 3,680 October 28 October 30 Sale 7 Purchase 7 930 6,510 $20,140 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold
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