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Required information [The following information applies to the questions displayed below.] Sara's Boutique has the following transactions related to its top-selling Gucci purse for
Required information [The following information applies to the questions displayed below.] Sara's Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sara's Boutique uses a periodic inventory system. Date October 1 Transactions Beginning inventory Units 6 Unit Cost Total Cost $730 $4,380 October 4 Sale October 10 October 13 October 20 October 28 October 30, Purchase 5 740 3,700 Sale 3 Purchase 4 750 3,000 Sale Purchase 760 6.080 $17,160 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold
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