The Coach Store sells designer bags. The following information relates to a special category of handbags.

Date	Transaction	Quantity	Price / Cost
Jan 1	Beginning inventory	400	$75
Apr 4	Purchase	200	$80
May 20	Sale	500	$130
June 2	Purchase	800	$92
July 4	Sale	500	$135

Calculate the Cost Of Goods Sold assuming the company uses a perpetual system and moving average cost formula.

Date	Purchased			Sold			Balance

Assume the same information as above, except now the company uses a periodic system for inventory. A physical count indicated there was $36,000 of inventory on hand at December 31.

Record the journal entry for the periodic system.