Because the items you sell for your home business are all unique, you use the specific identification method of inventory. Item Cost Prada boots size 8 women $ 150 Rocking chair wooden 125 sold Patio set 225 sold DeWalt tool set 210 Diamond earrings 1/2 carat 590 Diamond ring 1 carat 3,500 sold Dog life jacket XL 55 Metal wheelbarrow 100 sold Vitamix 200 $ 5,155 Using the above list of items, what is your cost of ending inventory and cost of goods sold? Cost of ending inventory? Cost of goods sold?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Because the items you sell for your home business are all unique, you use the specific identification method of inventory.
Item Cost Prada boots size 8 women $ 150 Rocking chair wooden 125 sold Patio set 225 sold DeWalt tool set 210
Diamond earrings 1/2 carat 590 Diamond ring 1 carat 3,500 sold Dog life jacket XL 55 Metal wheelbarrow 100 sold
Vitamix 200 $ 5,155 Using the above list of items, what is your cost of ending inventory and cost of goods sold? Cost of
ending inventory? Cost of goods sold?
Transcribed Image Text:Because the items you sell for your home business are all unique, you use the specific identification method of inventory. Item Cost Prada boots size 8 women $ 150 Rocking chair wooden 125 sold Patio set 225 sold DeWalt tool set 210 Diamond earrings 1/2 carat 590 Diamond ring 1 carat 3,500 sold Dog life jacket XL 55 Metal wheelbarrow 100 sold Vitamix 200 $ 5,155 Using the above list of items, what is your cost of ending inventory and cost of goods sold? Cost of ending inventory? Cost of goods sold?
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