Question: Part 1: Specific Identification Inventory Method Kansas City Homebuilders had the following houses for sale at the beginning of July, listed with the price that

Part 1: Specific Identification Inventory Method Kansas City Homebuilders had the following houses for sale at the beginning of July, listed with the price that Kansas City Homebuilders spent to construct each house. Kansas City Homebuilders uses a specific identification inventory system, as each house is unique. During the month of July, Kansas City Homebuilders sold the Roo Lane house for $564,000 and the KC Parkway house for $532,000. Address 1475 KC Parkway 1281 Roo Lane 1347 Missouri Avenue 1625 Kansas Street Cost to Build $374,950 S410,840 $399,180 $406,720 1. Calculate Kansas City Homebuilders' cost of goods available for sale on July 1. $1,591,690 2. What was Kansas City Homebuilders' revenue for the month of July? 153160+157,050= $310,210 3. What was Kansas City Homebuilders' cost of goods sold for July? $785,790 1. What is Kansas City Homebuilders' gross profit on the July income statement? 5. What is Kansas City Homebuilders' inventory balance on the July balance sheet? Display Settings

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