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In October, Cullumber Company purchased four original paintings for resale for the following amounts: Painting 1, $1,790; Painting 2, $2,640; Painting 3, $3,570; and Painting
In October, Cullumber Company purchased four original paintings for resale for the following amounts: Painting 1, $1,790; Painting 2, $2,640; Painting 3, $3,570; and Painting 4, $4,410. Paintings 3 and 4 were sold during October for $6,760 each. Calculate the cost of goods sold for the month and the ending inventory balance on October 31 using specific identification.
Cost of Goods Sold | ||
---|---|---|
Painting | Total Cost | |
select a painting | $enter a dollar amount | |
select a painting | enter a dollar amount | |
Total | $enter a total amount |
Ending Inventory | ||
---|---|---|
Painting | Total Cost | |
select a painting | $enter a dollar amount | |
select a painting | enter a dollar amount | |
Total | $enter a total amount |
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