Problem 6-1A (Static) Calculate ending inventory and cost of goods sold for four inventory methods (LO6-3)
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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
Transactions
Units
Unit Cost
Total Cost
October 1
Beginning inventory
6
$900
$5,400
October 4
Sale
4
 
 
October 10
Purchase
5
910
4,550
October 13
Sale
3
 
 
October 20
Purchase
4
920
3,680
October 28
Sale
7
 
 
October 30
Purchase
7
930
6,510
 
 
 
 
$20,140
Problem 6-1A (Static) Part 2
2. Using FIFO, calculate ending inventory and cost of goods sold
at October 31.