Use the retail method to find the cost of goods sold and the cost of ending inventory using the table in Exercise 1, the following table, and the fact that sales are $5,000:
Date of purchase Retail price per unit
Beginning inventory...................... $ 26
August 20.................................. $ 32
September 12............................... $ 35
October 2................................... $ 26
In Exercise 1

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Units Cost per Total Beginning inventory 182 78 39 52 Cost of goods available for sale Date of purchase purchased unit $21 $27 $28 $21 August 20 September 12 October 2