Sandra's Purse Boutique has the following transactions related to its top-selling Gucci purse for the month of October 2015. Sandra's Purse Boutique uses a periodic inventory system. Cost per Date Transactions Units Unit Total Cost October 1 Beginning Inventory 6 $900 $ 5.400 October 4 Sale October 10 Purchase 910 4,550 October 13 Sale October 20 Purchase 920 3,680 October 28 Sale October 30 Purchase 930 6,510 $20.140 Question 1: Calculate ending inventory and cost of goods sold at October 31, 2015, using the specific identification method. The October 4 sale consists of purses from beginning 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. Ending inventory 7.410 Cost of goods sold 12,730 Explanation