Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Jan. 1 Beginning inventory 107 units @$13.00 $1,391 Mar. 14 Purchased 410 units @$14.00 5,740 July 30 Purchased Units available for sale. 660 units @$15.00 = 1,177 units 9,900 Cost of goods available for sale $17,031 Che Urban Glam Cosmetics made sales on the following dates at a selling price of $36 per unit: Assume that Urban Glam Cosmetics uses the specific identification method to cost inventory. The 1,036 units were specifically sold as follows: Jan. 10: 86 units from beginning inventory Mar. 15: 19 units from beginning inventory, and 321 units from the March 14 purchase Oct. 5: 66 units from the March 14 purchase, and 544 units from the July 30 purchase Calculate cost of goods sold and the gross profit. < Prev 4 of 10 Next >