Inventory Costing Methods

Refer to the data in the table.

(2 points)Of the 1600 units sold, 300 were from the beginning inventory, 500 from the first purchase, 600 from the second purchase and 200 from the third purchase. Required:The cost of goods sold under the SpecificIdentification Method would be:

On hand at start of period 400 units $3.00 unit co X First purchase 600 units $3.50 unit cost Second purchase 700 units $3.30 unit cost Third purchase 500 units $3.40 unit cost Number of units available for sale 2,200 total units On hand at end of period 600 units Number of units sold during period 1.600 sold