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Transactions Units Unit Cost Beginning inventory, January 1 3 7 0 $ 4 . 0 0 Transactions during the year: a . Purchase, January 3
Transactions Units Unit Cost
Beginning inventory, January $
Transactions during the year:
a Purchase, January
b Purchase, May
c Sale $ each
d Sale $ each
Required:
Compute the specific identitification for ending inventory and cost of goods sold.
For Specific identification, assume the first sale was from beginning inventory and from the January purchase. Assume the second sale was from the remainder of the beginning inventory, with the balance from the May purchase.
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