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 Total Cost October 1 Beginning inventory 6 $790 $ 4,740 October 4 Sale 4 October le Purchase 5 800 4,000 October 13 Sale 3 October 2e Purchase 4 3,240 October 28 Sale 7 October 30 Purchase 8 820 $18,540 810 6,560 Required: 1. 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 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 Cost of goods sold 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 Total Cost October 1 Beginning inventory 6 $790 $ 4,740 October 4 Sale October 10 Purchase 5 800 4,000 October 13 Sale 3 October 20 Purchase 810 3,240 October 28 Sale October 30 Purchase 8 820 6,560 $18,540 4 4 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31 Ending inventory Cost of goods sold 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 Total Cost October 1 Beginning inventory 6 $790 $ 4,740 October 4 Sale 4 October 10 Purchase 800 4,800 October 13 Sale 3 October 20 Purchase 810 October 28 7 October 30 Purchase 8 820 6,560 $18,540 5 4 3,240 Sale 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31 Ending inventory Cost of goods sold 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 Total Cost October 1 Beginning inventory $790 October 4 $4,748 Sale October 10 Purchase 5 800 4.ee October 13 Sale October 20 Purchase 3,240 October 28 Sale October 30 Purchase 820 6,560 $18,540 6 4 810 7 B 4. Using weighted average cost calculate ending inventory and cost of goods sold at October 31. (Round your intermediate and final answers to 2 decimal places.) Ending inventory Cost of goods sold
