Use the data in exercise E6-30 to journalize the following for the periodic system:
1. Total October purchases in one summary entry. All purchases were on credit.
2. Total October sales in a summary entry. Assume that the selling price was $300 per unit and that all sales were on credit.
3. October 31 entries for inventory. The company uses weighted-average cost. Post to the Cost of Goods Sold T-account to show how this amount is determined. Label each item in the account.
4. Show the computation of cost of goods sold by the cost-of-goods-sold model.