Ending inventory consists of 55 units from the March 14 purchase, 85 units from the July 30 purchase, and all 170 units from the October 26 purchase. Using the specific identification method,...

Ending inventory consists of 55 units from the March 14 purchase, 85 units from the July 30 purchase, and all 170 units from the<br>October 26 purchase. Using the specific identification method, calculate the following.<br>Cost of Goods Sold using Specific Identification<br>Available for Sale<br>Cost of Goods Sold<br>Ending Inventory<br>Ending<br>Inventory<br>Units.<br>Date<br># of units<br>Cost Per<br>Unit<br>Cost Per<br>Unit<br>Cost Per Unit Ending Inventory<br>Cost<br>Activity<br># of units<br>COGS<br>sold<br>January 1<br>March 14<br>Beginning Inventory<br>Purchase<br>270<br>400<br>July 30<br>Purchase<br>470<br>October 26<br>Purchase<br>170<br>1,310<br>b) Gross Margin using Specific Identification<br>Less:<br>Equals:<br>

Extracted text: Ending inventory consists of 55 units from the March 14 purchase, 85 units from the July 30 purchase, and all 170 units from the October 26 purchase. Using the specific identification method, calculate the following. Cost of Goods Sold using Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Ending Inventory Units. Date # of units Cost Per Unit Cost Per Unit Cost Per Unit Ending Inventory Cost Activity # of units COGS sold January 1 March 14 Beginning Inventory Purchase 270 400 July 30 Purchase 470 October 26 Purchase 170 1,310 b) Gross Margin using Specific Identification Less: Equals:

Jun 10, 2022

SOLUTION.PDF

Ending inventory consists of 55 units from the March 14 purchase, 85 units from the July 30 purchase, and all 170 units from the October 26 purchase. Using the specific identification method,...

Get Answer To This Question

Related Questions & Answers

Submit New Assignment