Answer Happy

te 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 Total Cost Date Transactions Units Cost October 1 Beginning 6 $830 $ 4,980 inventory October 4 Sale 4 October 10 5 840 4,200 Purchase Sale October13 3 October 20 4 850 3,400 Purchase Sale October 28 October30 Purchase 860 5,160 $17,740 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold 76