Required information [The following information applies to the questions displayed below.] Sandra's Purse Boutique has the following transactions related to its top-selling Gucci purse for the month...

Extracted text: Required information [The following information applies to the questions displayed below.] Sandra's 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. Cost per Unit Date Transactions Units Total Cost October 1 Beginning inventory Sale $730 $ 4,380 October 4 4 October 10 Purchase 5 740 3,700 October 13 Sale Purchase 3 October 20 4 750 3,000 October 28 Sale 7 October 30 Purchase 8 760 6,080 $17,160 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold


Extracted text: ! Required information [The following information applies to the questions displayed below.] Sandra's 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 October 1 October 4 Cost per Unit $730 Transactions Units Total Cost $ 4,380 Beginning inventory Sale 6 4 October 10 Purchase 740 3,700 October 13 Sale 3 October 20 Purchase 4 750 3,000 October 28 Sale 7 October 3O Purchase 8. 760 6,080 $17,160 Req 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 Cost of goods sold