Jasper & Williams made purchases of a particular product in the current year as follows: 15.25 points
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Question:
Jasper & Williams made purchases of a particular product in the current year as follows: 15.25 points 2 00:06:45 Jan. 1 Beginning inventory Mar 7 Purchased July 28 Purchased Oct. 3 Purchased Totals 130 units @ $2.20 285 units @ $2.40 570 units @ $2.40 70 units @ $2.50 1,055 units $ 286 684 1,368 175 $ 2,513 Skipped e Book Assume that the specific identification method is used to assign costs to cost of goods sold ending inventory. The units in ending inventory were specifically identified as follows. 87 units from beginning inventory 34 units from the March 7 purchase, and 55 units from the July 28 purchase. Required Determine the cost to be assigned to ending inventory and cost of goods sold. (Round the final answers to 2 decimal places.)
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