Alexandra's boutique has the following transactions related to its top-selling Gucci purse for the month of October. Using FIFO, calculate ending inventory and cost of goods sold at October 31.
a) Ending inventory: $6,280; Cost of goods sold: $9,780
b) Ending inventory: $9,780; Cost of goods sold: $6,280
c) Ending inventory: $4,500; Cost of goods sold: $11,560
d) Ending inventory: $11,560; Cost of goods sold: $4,500
