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Solve ending inventory and cost of goods sold at october

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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 invnentory         6                      $820                     $4,920

October 4                   Sale                      4

October10              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

Question 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

Reference no: EM132599497

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