Question 2 : Cost Flow Assumptions " The same facts are presented at the top of each page for your convenience . Assume the company uses the PERIODIC method for inventory . Method 1 : SPECIFIC IDENTIFICATION FACTS Description Units Price / Unit| Total Price June 1 Beginning Inventory* 10 $3 $30 June 2 Purchase 30 $4 $120 June 10 Purchase 40 $6 $240 June 12 Sale 60 $20 $1 , 200 June 17 Purchase 70 $7 $490 50 OTS June 21 Purchase $500 June 29 Sale 80 $22 $1 , 760 The company uses the PERIODIC method to account for inventory* The ending inventory consists of 15 units purchased on 6/2 , 25 units purchased on 6 / 10 , and 20 units purchased on 6/21 . * Find Ending Inventory and Cost of Good Sold Under the Specific Identification Method* Ending Inventory* Cost of Goods Sold