Required: Record the necessary adjusting entries on December 31, 2018. P6-1A Sandra's Purse Boutique has the following transactions related to its top- selling Gucci purse for the month of October. Units Cost per Unit Total Cost Date Transactions October 1 Beginning inventory 6 $900 $5,400 October 4 Sale 4 October 10 Purchase 5 910 4,550 October 13 Sale 3 October 20 Purchase 4 920 3,680 October 28 Sale 7 October 30 Purchase 7 930 6,510 $20,140 Required: Calculate ending inventory and cost of goods sold at October 31, using the specific identification method. The October 4 sale consists of purses from beginning 1. inventory, the October 13 sale consists of one purse from beginning inventory and two purses from the October 10 purchase, and the October 28 sale consists of three purses from the October 10 purchase and four purses from the October 20 purchase. 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31. 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31. Using weighted-average cost, calculate ending inventory and cost of goods sold at 4. October 31.