Sara's Boutique has the following transactions related to its top$-$selling Gucci purse for the month of October.

Date Transactions Units Unit Cost Total Cost

October $1$ Beginning inventory $6$ $ $790$ $ $4,740$

October $4$ Sale $4$

October $10$ Purchase $58004,000$

October $13$ Sale $3$

October $20$ Purchase $48103,240$

October $28$ Sale $7$

October $30$ Purchase $88206,560$

$ $18,540$

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.