A beginning inventory and purchases of computer parts follow: The company sold 20 units from beginning inventory, 5 units from the first purchase, and 18 units from the second purchase.
Required: Determine the (a) cost of an ending inventory and (b) Cost of Goods Sold under the specific invoice method. Round to two decimal places if required.

Question

A beginning inventory and purchases of computer parts follow:  The company sold 20 units from beginning inventory, 5 units from the first purchase, and 18 units from the second purchase.
Required: Determine the (a) cost of an ending inventory and (b) Cost of Goods Sold under the specific invoice method. Round to two decimal places if required.

Quizplus · Accepted Answer

The Answer of A beginning inventory and purchases of computer parts follow:  The company sold 20 units from beginning inventory, 5 units from the first purchase, and 18 units from the second purchase.
Required: Determine the (a) cost of an ending inventory and (b) Cost of Goods Sold under the specific invoice method. Round to two decimal places if required.

A Beginning Inventory and Purchases of Computer Parts Follow