Periodic Method ***

OWL Question for Unit 5-1 Inventory costing methods Question Status: ? ? ? ? 8:16 PM 2 3 4 5 Opster sells prisms that it buys from a few different suppliers. Each supplier's prisms are identifiable by Opster. At the beginning of August, Opster had 30 prisms that were all from Supplier 1 for $20 each. On August 8, Opster purchased 40 prisms for $22 each from Supplier 2. On August 17, Opster purchased 36 prisms for $24 each from Supplier 3. At a trade fair on August 30, Opster sold some the prisms. At the end of August, Opster still had the following prisms: 5 prisms from Supplier 1 18 prisms from Supplier 2 17 prisms from Supplier 3 How many prisms did Opster sell in August? What is Cost of goods available for sale for August? Assume Opster uses the Specific Identification Method for costing inventory. What is Opster's Cost of goods sold for August? What is the cost of Opster's ending inventory at August 31? CHECK