Classy Jewelers uses the specific identification method of determining ending inventory and Cost of Goods Sold. Classy purchased 5 gold necklaces at $310 each, 6 diamond rings at $410 each, and 7 gold bracelets at $260 each. What is the Cost of Goods Sold for the month if 4 necklaces, 5 rings, and 3 bracelet(s) were sold? OA. $3,810 B. $1,820 C. $4,070 OD. $4,380

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Classy Jewelers uses the specific identification method of determining ending inventory and Cost of Goods Sold. Classy purchased 5 gold necklaces at $310 each, 6
diamond rings at $410 each, and 7 gold bracelets at $260 each. What is the Cost of Goods Sold for the month if 4 necklaces, 5 rings, and 3 bracelet(s) were sold?
OA. $3,810
B. $1,820
C. $4,070
OD. $4,380
Transcribed Image Text:Classy Jewelers uses the specific identification method of determining ending inventory and Cost of Goods Sold. Classy purchased 5 gold necklaces at $310 each, 6 diamond rings at $410 each, and 7 gold bracelets at $260 each. What is the Cost of Goods Sold for the month if 4 necklaces, 5 rings, and 3 bracelet(s) were sold? OA. $3,810 B. $1,820 C. $4,070 OD. $4,380
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