sm4512626

 

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     $ 820       $ 4,920     October 4   Sale   4                       October 10   Purchase   5       830         4,150     October 13   Sale   3                       October 20   Purchase   4       840         3,360     October 28   Sale   7                       October 30   Purchase   8       850         6,800                               $ 19,230    

 

2. Using FIFO, calculate ending inventory and cost of goods sold at October 31.