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 Jan. 10: 75 units from beginning inventory Mar. 15: Oct. 5: 85 units @$14.00 = $1,190 300 units @$15.00 4,500 550 units @$16.00 8,800 935 units Urban Glam Cosmetics made sales on the following dates at a selling price of $34 per unit: Assume that Urban Glam Cosmetics uses the specific identification method to cost inventory. The 805 units were specifically sold as follows: 8 units from beginning inventory, and 222 units from the March 14 purchase 55 units from the March 14 purchase, and 445 units from the July 30 purchase Calculate cost of goods sold and the gross profit. E $14,498 K

Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Urban Glam Cosmetics made sales on the following dates at a selling price of $34 per unit: Assume that Urban Glam Cosmetics uses the specific identification method to cost inventory. The 805 units were specifically sold as follows: Calculate cost of goods sold and the gross profit. Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Urban Glam Cosmetics made sales on the following dates at a selling price of $34 per unit: Assume that Urban Glam Cosmetics uses the specific identification method to cost inventory. The 805 units were specifically sold as follows: Calculate cost of goods sold and the gross profit