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Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Jan. 1 Beginning inventory 9 3 units @ $ 1 2 .

Urban Glam Cosmetics made purchases of lipstick in the current year as follows:
Jan. 1 Beginning inventory 93 units @ $ 12.00= $ 1,116
Mar. 14 Purchased 340 units @ $ 13.00=4,420
July 30 Purchased 590 units @ $ 14.00=8,260
Units available for sale 1,023 units
Cost of goods available for sale $ 13,796
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 889 units were specifically sold as follows:
Jan. 10: 79 units from beginning inventory
Mar. 15: 12 units from beginning inventory, and
258 units from the March 14 purchase
Oct. 5: 59 units from the March 14 purchase, and
481 units from the July 30 purchase
Calculate cost of goods sold and the gross profit.

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