Exercise 4 SPECIFIC IDENTIFICATION METHOD In July, Unique Jewels Company purchased the following items: Date Purchased # Rings Cost per ring Jul. 2 1 $15,000 Jul 5 2. 9.250 Jul 10 1 750 Jul 19 3 12,500 Jul 20 4 945 On July 22, one ring from the July 2 purchase was sold for $19,500 and 2 rings from the July 20 purchase were sold for $1.520 each. All sales and purchases are made on credit. Instructions: Calculate ending inventory and cost of goods sold using specific identification