EastPoint Toyota, a small dealership, has provided you with the following information with respect to its vehicle inventory for the month of November. The company uses the specific identification method.

Instructions
(a) Determine the cost of goods sold and the ending inventory for the month of November.
(b) Determine the gross profit for the month of November.
Taking It Further
Should EastPoint Toyota use the specific identification cost determination method or one of the cost formulas? Explain.

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Date lanation Model Unit Selling Price Inventory 1 9 ov. 2 $22,000 28,000 8 Sales 12 Purchases Camry 18 Sales 27,000 29,000 23 Purchases 23,000 30,000