Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Jan. 1 Beginning inventory Mar. 14 Purchased July 30 Purchased Units available for sale Cost of goods available for sale 75 units @ $12.00 = $ 900 250 units @ $13.00 3,250 500 units @ $14.00 7,000 825 units $11, 150 Urban Glam Cosmetics made sales on the following dates at a selling price of $35 per unit: Assume that Urban Glam Cosmetics uses the specific identification method to cost inventory. The 700 units were specifically sold as follows: Jan. 10: 70 units from beginning inventory Mar. 15: 3 units from beginning inventory, and 177 units from the March 14 purchase Oct. 5: 50 units from the March 14 purchase, and 400 units from the July 30 purchase Calculate cost of goods sold and the gross profit Answer is complete but not entirely correct. Cost of goods ann