Required information

[The following information applies to the questions displayed below.] Sandras 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				Total Cost
October	1		Beginning inventory		6			$	810				$	4,860
October	4		Sale		4
October	10		Purchase		5				820					4,100
October	13		Sale		3
October	20		Purchase		4				830					3,320
October	28		Sale		7
October	30		Purchase		7				840					5,880
													$	18,160

3. Using LIFO, calculate ending inventory and cost of goods sold at October 31.

Ending inventory Cost of goods sold