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Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Jen. 1 Beginning inventory Mar. 14 Purchased July 3theta Purchased Units available
Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Jen. 1 Beginning inventory Mar. 14 Purchased July 3theta Purchased Units available for sale Cost of goods available for sale 95 units 8$13.00=$1,235 350 units 8$14.00=4,900 600 units 9$15.00=9,000 $15,135 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 910 units were specifically sold as follows: Jan. 18: 8theta units from beginning inventory Mar. 15: 13 units from beginning inventory, and 267 units from the March 14 purchase Dct. 5: 69 units from the March 14 purchase, and 490 units from the July 30 purchase
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