Question: Using the specific identification method, calculate (a) the cost of ending inventory and (b) the cost of goods sold given the following: LU 18-1(2)


Using the specific identification method, calculate (a) the cost of ending inventory and (b) the cost of 

Using the specific identification method, calculate (a) the cost of ending inventory and (b) the cost of goods sold given the following: LU 18-1(2) Date June 1 July 1 August 1 Units purchased 15 Echo Show's 360 45 Echo Show's 360 60 Echo Show's 360 January 1 inventory April 1 June 1 November 1 From the following, calculate the (a) cost of ending inventory (round the average unit cost to the nearest cent) and (b) cost of goods sold using the weighted-average method, FIFO, and LIFO (ending inventory shows 61 units). LU 18-1(2) Number purchased Cost per unit $275 250 240 40 60 50 55 Cost per unit $4 7 8 9 Total Ending inventory 2 Echo Show's from June 15 Echo Show's from July 12 Echo Show's from August $160 420 400 495

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