• Illustration: Crivitz TV Company purchases three identical 50inch TVs on different dates at costs of $700, $750, and $800. During the year Crivitz sold two sets at $1,200 each. These facts are summarized below.

  purchases
  February 3 1TV at 700
  March 5 1TV at 750
  May 22 1TV at 800
  sales
  June 1 2Tv for 2400(1200×2)

  calculate COGS and GOEI under a specific identification method.
  explain your answer.
  thanks in advance

Answer rating: 100% (QA)

Specific Identification COGS If Crivitz sold the TVs it purchased ... View the full answer