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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
Sandra's Purse Boutique has the following transactions related to its top-sellingGuccipurse for the month of October. Sandra's Purse Boutique uses a periodic inventory system.
DateTransactionsUnitsUnit CostTotal CostOctober1Beginning inventory6$750$4,500October4Sale4October10Purchase57603,800October13Sale3October20Purchase47703,080October28Sale7October30Purchase67804,680$16,060
Using LIFO, calculate ending inventory and cost of goods sold at October 31.
Ending Inventory
Cost of goods sold
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