During 2018, a company sells 150 units of inventory for $53 each. The company has...
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During 2018, a company sells 150 units of inventory for $53 each. The company has the following inventory purchase transactions for 2018: Number of Date Jan. 1 May 5 Nov. 3 Transaction Beginning inventory Purchase Purchase $412.378 4,400 3,003 110 40 39 245 $ 9,781 Actual sales by the company include its entire beginning inventory, 90 units of inventory from the May 5 purchase, and 2 units from the November 3 purchase. Calculate cost of goods sold and ending inventory for 2018 assuming the company uses specific identification. Cost of goods sold Ending inventory
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