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The following information applies to the questions displayed below.] Brianna's Boutique has the following transactions related to its top-selling Gucci purse for the month of
The following information applies to the questions displayed below.] Brianna's Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Brianna's Boutique uses a periodic inventory system. Date October 1 October 4 October 10 October 13 October 20 October 28 October 30 Transactions Beginning inventory Sale Purchase Sale Purchase Sale Purchase Answer is complete but not entirely correct. Ending inventory Cost of goods sold $ $ Units Unit Cost 6 $800 4 5 3 4 7 6 5,703 X 11,407 X 810 820 830 Total Cost $4,800 Required: 1. Calculate ending inventory and cost of goods sold at October 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. 4,050 3,280 4,980 $17,110
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