Transactions Units Unit Cost

Beginning inventory, January $1370$ $$4\mathrm{.}00$

Transactions during the year:

a$.$ Purchase, January $302703\mathrm{.}10$

b$.$ Purchase, May $14305\mathrm{.}00$

c$.$ Sale $($$$6$ each$)(130)$

d$.$ Sale $($$$6$ each$)(670)$

Required:

Compute the specific identitification for ending inventory and cost of goods sold.

For Specific identification, assume the first sale was $40\%$ from beginning inventory and $60\%$ from the January $30$ purchase. Assume the second sale was from the remainder of the beginning inventory, with the balance from the May $1$ purchase.