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Problem 6-1A Calculate ending inventory and cost of goods sold for tour inventory methods (LO6-3)...

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Accounting

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Problem 6-1A Calculate ending inventory and cost of goods sold for tour inventory methods (LO6-3) {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. Total Cost $ 4,380 Date October 1 October 4 October 10 October 13 October 20 October 28 October 30 3,700 Transactions Beginning inventory Sale Purchase Sale Purchase Sale Purchase Units Unit Cost 6 $730 4 5 740 3 4 750 7 760 3,000 6,080 $17,160 Problem 6-1A Part 1 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. Ending inventory Cost of goods sold

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