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Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Jan. 1 Beginning inventory Mar. 14 Purchased 91 units 330 units
Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Jan. 1 Beginning inventory Mar. 14 Purchased 91 units 330 units $14.00 @$15.00 $1,274 4,950 July 30 Purchased 580 units @$16.00 9,280 Units available for sale 1,001 units Cost of goods available for sale $15,504 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 868 units wer follows: Jan. 10: 78 units from beginning inventory Mar. 15: Oct. 5: 11 units from beginning inventory, and 249 units from the March 14 purchase 58 units from the March 14 purchase, and 472 units from the July 30 purchase prace profit
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