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Urban Glam Cosmetics made purchases of lipstick in the current year as follows (46 Marks): Jan. 1 Beginning inventory. 75 units $12.00 $ 900 Mar.

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Urban Glam Cosmetics made purchases of lipstick in the current year as follows (46 Marks): Jan. 1 Beginning inventory. 75 units $12.00 $ 900 Mar. 14 Purchased . 250 units $13.00 3,250 July 30 Purchased . 500 units $14.00 7.000 Units available for sale. 825 units Cost of goods available for sale.. $11,150 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 Determine the costs that should be assigned to the ending inventory and to goods sold

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