Question: Sigma Retail uses the specific identification method for inventory valuation. Calculate the cost of goods sold (COGS) for Sigma Retail based on the following data:

  • Sigma Retail uses the specific identification method for inventory valuation. Calculate the cost of goods sold (COGS) for Sigma Retail based on the following data:
    • Beginning inventory: 200 units at $30 per unit
    • Purchases: 400 units at $35 per unit
    • Sales: 450 units during the period

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