Required information [The following information applies to the questions displayed below) Sandra's Purse Boutique has...
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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 Unit Cost $ 770 Total Cost $ 4,620 Transactions Beginning inventory Sale Purchase Sale Purchase Sale Purchase Date October 1 October 4 October 10 October 18 October 20 October 28 October 30 Units 6 4 5 3 4 7 7 780 3,900 790 3,160 sea 5,500 $17,280 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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