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During 2021, a company sells 180 units of inventory for $57 each. The company has the following inventory purchase transactions for 2021: Date Transaction Jan.
During 2021, a company sells 180 units of inventory for $57 each. The company has the following inventory purchase transactions for 2021: Date Transaction Jan. 1 Beginning inventory. May 5 Purchase Nov. 3 Purchase Number Unit of Units Coat 56 $40 102 39 38 232 Total Cost $2,240 3,978 2,812 $9,030 5 74 Actual sales by the company include its entire beginning inventory, 82 units of inventory from the May 5 purchase, and 42 units from the November 3 purchase. Calculate cost of goods sold and ending Inventory for 2021 assuming the company uses specific identification Cost of goods sold Ending inventory
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