Use the information in *Exercise 6-13. Assume that the specific identification method is used to assign costs to cost of goods sold ending inventory. The units in ending inventory were specifically identified as follows:
€¢ 80 units from beginning inventory
€¢ 27 units from the March 7 purchase, and
€¢ 48 units from the July 28 purchase.
In Exercise 6.13

Required:
Determine the cost to be assigned to ending inventory and cost of goods sold.

Transcribed Image Text:

Jan. 1 Beginning inventory..120 units$2.10 Mar. 7 Purchased July 28 Purchased 252 550 1,150 147 $2,099 250 units @ $2.20 = 500 units$2.30 60 units @ $2.45 =