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Urban Glam Cosmetics made purchases of lipstick in the current year as follows: 89 units 320 units 570 units 979 units $13.00 $14.00 @ $15.08

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Urban Glam Cosmetics made purchases of lipstick in the current year as follows: 89 units 320 units 570 units 979 units $13.00 $14.00 @ $15.08 Jan. 1 Beginning inventory Mar. 14 Purchased July 3e Purchased Units available for sale Cost of goods available for sale - 51,157 4,480 8,550 $14, 187 Urban Glam Cosmetics made sales on the following dates at a seling price of $36 per unit Assume that Urban Glam Cosmetics uses the specific identification method to cost inventory. The 847 units were specifically sold as follows Jan. 10: Mar. 15: 77 units from beginning inventory 10 units from beginning inventory, and 240 units from the March 14 purchase 57 units from the March 14 purchase, and 463 units from the July 30 purchase Oct. 51 Calculate cost of goods sold and the gross profit. Cost of goods sold Gross profit

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