EastPoint Toyota, a small dealership, has provided you with the following information with respect to its vehicle inventory for the month of November. The company uses the specific identification method. Date Explanation Model Serial# Unit Cost Unit Selling Price Nov. 1 Inventory Corolla C63825 $15,000 Corolla C81362 18,000 Camry G62313 27,000 Venza X3892 29,000 Tundra F1883 22,000 Tundra F1921 25,000 8 Sales Corolla C81362 $19,600 Camry G62313 29,000 12 Purchases Camry G71811 28,000 Camry G71891 26,000 Venza X4212 28,000 Venza X4214 30,000 18 Sales Camry G71891 27,900 Venza X3892 33,400 Tundra F1921 28,900 23 Purchases Tundra F2182 24,000 Camry G72166 28,000 Determine the cost of goods sold and the ending inventory for the month of November.
EastPoint Toyota, a small dealership, has provided you with the following information with respect to its vehicle inventory for the month of November. The company uses the specific identification method.
|
Date |
Explanation |
Model |
Serial# |
Unit Cost |
Unit Selling Price |
|||||||
|
Nov. 1 |
Inventory |
Corolla |
C63825 |
$15,000 |
||||||||
|
Corolla |
C81362 |
18,000 |
||||||||||
|
Camry |
G62313 |
27,000 |
||||||||||
|
Venza |
X3892 |
29,000 |
||||||||||
|
Tundra |
F1883 |
22,000 |
||||||||||
|
Tundra |
F1921 |
25,000 |
||||||||||
|
8 |
Sales |
Corolla |
C81362 |
$19,600 |
||||||||
|
Camry |
G62313 |
29,000 |
||||||||||
|
12 |
Purchases |
Camry |
G71811 |
28,000 |
||||||||
|
Camry |
G71891 |
26,000 |
||||||||||
|
Venza |
X4212 |
28,000 |
||||||||||
|
Venza |
X4214 |
30,000 |
||||||||||
|
18 |
Sales |
Camry |
G71891 |
27,900 |
||||||||
|
Venza |
X3892 |
33,400 |
||||||||||
|
Tundra |
F1921 |
28,900 |
||||||||||
|
23 |
Purchases |
Tundra |
F2182 |
24,000 |
||||||||
|
Camry |
G72166 |
28,000 |
Determine the cost of goods sold and the ending inventory for the month of November.
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