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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 Transactions Units Unit Cost October 1 Beginning inventory 6 $780 Total Cost $ 4,680 October 4 Sale 4 October 10 Purchase 5 790 3,950 October 13 Sale 3 October 20 Purchase 4 800 3,200 October 28 Sale 7 October 30 Purchase 6 810 4,860 $16,690 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold
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