Question: I need help with this accounting problem it is based on Reporting and Analyzing Inventory. Please indicate full solution thank you. On January 3, Pronghorn
I need help with this accounting problem it is based on "Reporting and Analyzing Inventory". Please indicate full solution thank you.
On January 3, Pronghorn Corp. purchased three portable electronic keyboards for $590 each. On January 20, it purchased four more of the same model keyboards for $514 each. During the month, it sold two keyboards; one that Pronghorn purchased on January 3 and one that it purchased on January 20. (a) Calculate the cost of goods sold and ending inventory for the month using specific identification. Cost of goods sold Ending inventory $ $
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