Using the specific identification method: Date Units purchased Cost per unit Ending inventory March 1 15...

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Using the specific identification method: Date Units purchasedCost per unit Ending inventory March 1 15 Xbox?s 360 $ 275 2 Xbox?sfrom March April 1 45 Xbox?s 360 250 15 Xbox?s from April May 1 60Xbox?s 360 240 12 Xbox?s from May
a. Calculate the ending inventory.Ending inventory $:
b. Calculate the cost of goods sold. Cost of goods sold $:

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Ans.	Specific Identification:
		Available for sale				Cost of goods sold			Ending inventory
	Purchase date	Units	Rate	Cost	Units	Rate	Cost	Units	Rate	Cost
	1-Mar	15	$275	$4,125	13	$275	$3,575	2	$275	$550
	1-Apr	45	$250	$11,250	30	$250	$7,500	15	$250	$3,750
	1-May	60	$240	$14,400	48	$240	$11,520	12	$240	$2,880
	Total			$29,775	Cost of goods sold		$22,595	Ending inventory		$7,180

	Ending Inventory		$7,180
	Cost of goods sold		$22,595


	Units sold = Units available for sale - Ending inventory units

	*Calculations:
	Date	Units available	Ending inventory	Sold units
		(a)	units (b)	(a - b)
	1-Mar	15	2	13
	1-Apr	45	15	30
	1-May	60	12	48

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Using the specific identification method: Date Units purchasedCost per unit Ending inventory March 1 15 Xbox?s 360 $ 275 2 Xbox?sfrom March April 1 45 Xbox?s 360 250 15 Xbox?s from April May 1 60Xbox?s 360 240 12 Xbox?s from Maya. Calculate the ending inventory.Ending inventory $:b. Calculate the cost of goods sold. Cost of goods sold $: