Sandra's PurseBoutique has the following transactions related to its top-sellingGucci purse for the month of October. Sandra's PurseBoutique uses a periodic inventory system.
Date | Transactions | Units | Cost per Unit | Total Cost |
October1 | Beginninginventory | 6 | $770 | $ 4,620 |
October4 | Sale | 4 | | |
October10 | Purchase | 5 | 780 | 3,900 |
October13 | Sale | 3 | | |
October20 | Purchase | 4 | 790 | 3,160 |
October28 | Sale | 7 | | |
October30 | Purchase | 7 | 800 | 5,600 |
| | | | |
| | | | $17,280 |
| | | | |
a) Using FIFO,calculate cost of goods sold on October 31.
b) Using FIFO,calculate ending inventory on October 31.
c) Using LIFO,calculate cost of goods sold on October 31.
d) Using LIFO,calculate ending inventory on October 31
e) Calculateweighted-average cost per unit. (Round your answer to 2 decimalplaces.)
