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Calculate ending inventory 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 inventory             6                $ 740          $ 4,440
October 4               Sale                         4
October 10            Purchase                     5                 750            3,750
October 13                 Sale                        3
October 20               Purchase                  4                  760            3,040
October 28                    Sale                      7
October 30                  Purchase                 7                770            5,390
                                                                                               $ 16,620

Problem 1: Using LIFO, calculate ending inventory and cost of goods sold at October 31.

Reference no: EM132755392

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