Question
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
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.
| Date |
| Explanation |
| Model |
| Serial# |
| Unit Cost |
| Unit Selling Price | ||
| Nov. 1 |
| Inventory |
| Corolla |
| C63825 |
| $15,000 |
|
| ||
|
|
|
|
| Corolla |
| C81362 |
| 18,000 |
|
| ||
|
|
|
|
| Camry |
| G62313 |
| 27,000 |
|
| ||
|
|
|
|
| Venza |
| X3892 |
| 29,000 |
|
| ||
|
|
|
|
| Tundra |
| F1883 |
| 22,000 |
|
| ||
|
|
|
|
| Tundra |
| F1921 |
| 25,000 |
|
| ||
| 8 |
| Sales |
| Corolla |
| C81362 |
|
|
| $19,600 | ||
|
|
|
|
| Camry |
| G62313 |
|
|
| 29,000 | ||
| 12 |
| Purchases |
| Camry |
| G71811 |
| 28,000 |
|
| ||
|
|
|
|
| Camry |
| G71891 |
| 26,000 |
|
| ||
|
|
|
|
| Venza |
| X4212 |
| 28,000 |
|
| ||
|
|
|
|
| Venza |
| X4214 |
| 30,000 |
|
| ||
| 18 |
| Sales |
| Camry |
| G71891 |
|
|
| 27,900 | ||
|
|
|
|
| Venza |
| X3892 |
|
|
| 33,400 | ||
|
|
|
|
| Tundra |
| F1921 |
|
|
| 28,900 | ||
| 23 |
| Purchases |
| Tundra |
| F2182 |
| 24,000 |
|
| ||
|
|
|
|
| Camry |
| G72166 |
| 28,000 |
|
| ||
Determine the cost of goods sold and the ending inventory for the month of November.
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