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Jasper & Williams made purchases of a particular product in the current year as follows: table [ [ Jan . , 1 , Beginning
Jasper & Williams made purchases of a particular product in the current year as follows:
tableJanBeginning inventory, units,@ $$MarPurchased, units,@$JulyPurchased, units,@$OctPurchased, units,@$Totals, units,,,$
Assume that the specific identification method is used to assign costs to cost of goods sold ending inventory. The units in ending inventory we specifically identified as follows.
units from beginning inventory
units from the March purchase, and
units from the July purchase.
Required:
Determine the cost to be assigned to ending inventory and cost of goods sold. Round the final answers to decimal places.
tableEnding inventoryCost of goods sold
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