Calculate ending inventory and cost of goods sold at March 31, using the specific identification method. Date Transactions Units Unit Cost Total Cost March 1 Beginning inventory 20 $ 250 $ 5,000 March 5 Sale ($400 each) 15 March 9 Purchase 10 270 2,700 March 17 Sale ($450 each) 8 March 22 Purchase 10 280 2,800 March 27 Sale ($475 each) 12 March 30 Purchase 9 300 2,700 $ 13,200
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Calculate ending inventory and cost of goods sold at March 31, using the specific identification met...
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