Problem 1 Use the specific identification method to solve for the inventory balance. Consider...
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Accounting
Problem 1
Use the specific identification method to solve for the inventory balance. Consider these details from the internal documents of Best Buy on their TVs
Purchases made in January
January 1, 12 black Samsung brand 36 curved TV purchased at a cost of $320 January 3, 17 black Toshiba brand 42 limited edition flat screen TV were purchased at a cost of $ 420
January 17, 25 white Samsung 36 student edition curved TV were purchased at a cost of $ 385
Items sold during January
January 14, 24 units were sold - 10 black Samsung brand 36 curved TV
14 black Toshiba brand 42 limited edition flat screen TV
January 28, 19 units were sold - 2 black Samsung brand 36 curved TV
17 white Samsung 36 student edition curved TV
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You can see the logs in the Dashboard.