Question: 4. Using the following information below, calculate the ending inventory balance, and cost of goods sold using (30 points); Date Actviities Units Acquired at Cost
4. Using the following information below, calculate the ending inventory balance, and cost of goods sold using (30 points); Date Actviities Units Acquired at Cost Units Sold at Retail Aug-01 Beginning Inventory 150 units @ $7.00 1,050 Aug-10 Sales Aug-20 Purchases 220 units @ $6.00 1,320 Aug-25 Sales Aug-30 Purchases 90 units @ $5.00 450 Total 460 units 2,820 235 units ((For specific identification, ending inventory consists of 225 unts, where 90 units are from the Aug 30 purchase, 80 are from the Aug 20 purchase, and 55 from the beginning inventory.) a) Specific Identification b) Average Cost Method c) FIFO d) LIFO 90 units @ $15 145 units @ $15
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