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3) Dittner Inc. opened for business on July 1, 2013 selling unique jewelry purchased from local artisans During the month the company made the following
3) Dittner Inc. opened for business on July 1, 2013 selling unique jewelry purchased from local artisans During the month the company made the following purchases: Date Inventory Tage Number Cost July 1 001 $1.500 July 3 002 600 003 1,200 July 5 004 2.300 July 10 005 400 006 1.115 July 13 007 3.900 008 900 July 26 009 1,700 July 31 010 2,225 On July 31, only inventory items 006, 008, and 010 remained in inventory. Requirements: (a) Determine the cost of goods sold for Harris Inc. for the month of July using the specific identification cost determination method. (b) Discuss whether or not specific identification is an appropriate cost determination method for this company
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