In July, Brilliant Jewellers Company purchased the following items: Date Purchased # Rings Cost per...
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In July, Brilliant Jewellers Company purchased the following items: Date Purchased # Rings Cost per ring Jul. 2 1 $15,000 Jul 5 2 9,250 Jul 10 750 Jul 19 12,500 Jul 20 4 945 stion 1 3 On July 22, one ring from the July 2 purchase was sold for $19,500 and 2 rings from the July 20 purchase were sold for $1,520 each. All sales and purchases are made on credit. Instructions a) Calculate ending inventory and cost of goods sold using specific identification
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