[The following information applies to the questions displayed below.] 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

$

750

$

4,500

October

4

Sale

4

October

10

Purchase

5

760

3,800

October

13

Sale

3

October

20

Purchase

4

770

3,080

October

28

Sale

7

October

30

Purchase

6

780

4,680

$

16,060

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
costs of good sold

2. Using FIFO, calculate ending inventory and cost of goods sold at October 31.

ending inventory
costs of goods sold

3. Using LIFO, calculate ending inventory and cost of goods sold at October 31.

ending inventory
costs of good sold

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
costs of goods sold