Using the specific identification method: Date Units purchased Cost per unit Ending inventory June 1 16 Echo Show’s 360 $ 268 5 Echo Show’s from June July 1 39 Echo Show’s 360 243 18 Echo Show’s from July August 1 55 Echo Show’s 360 233 15 Echo Show’s from August Calculate the cost of ending inventory. Calculate the cost of goods sold.

Using the specific identification method: Date Units purchased Cost per unit Ending inventory June 1 16 Echo Show’s 360 $ 268 5 Echo Show’s from June July 1 39 Echo Show’s 360 243 18 Echo Show’s from July August 1 55 Echo Show’s 360 233 15 Echo Show’s from August Calculate the cost of ending inventory. Calculate the cost of goods sold.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter14: Adjustments For A Merchandising Business

Section: Chapter Questions

Problem 7SEA: DETERMINING THE BEGINNING AND ENDING INVENTORY FROM A PARTIAL SPREADSHEET: PERIODIC INVENTORY SYSTEM...

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Date	Units purchased	Cost per unit	Ending inventory
June 1	16 Echo Show’s 360	$ 268	5 Echo Show’s from June
July 1	39 Echo Show’s 360	243	18 Echo Show’s from July
August 1	55 Echo Show’s 360	233	15 Echo Show’s from August

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