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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
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 | $ | 710 | $ | 4,260 | |||||||||
October | 4 | Sale | 4 | |||||||||||||
October | 10 | Purchase | 5 | 720 | 3,600 | |||||||||||
October | 13 | Sale | 3 | |||||||||||||
October | 20 | Purchase | 4 | 730 | 2,920 | |||||||||||
October | 28 | Sale | 7 | |||||||||||||
October | 30 | Purchase | 7 | 740 | 5,180 | |||||||||||
$ | 15,960 | |||||||||||||||
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.)
What is ending inventory & cost of goods sold?
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