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Blossom has the following inventory data: Nov. 1 Inventory 35 units @ $7.10 each 8 Purchase 142 units @ $7.60 each 17 Purchase 71 units
Blossom has the following inventory data:
Nov. 1 Inventory 35 units @ $7.10 each
8 Purchase 142 units @ $7.60 each
17 Purchase 71 units @ $7.45 each
25 Purchase 106 units @ $7.80 each
A physical count of merchandise inventory on November 30 reveals that there are 118 units on hand. Assuming that the specific identification method is used and that ending inventory consists of 35 units from each of the three purchases and 13 units from the November 1 inventory, cost of goods sold is
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