Calculate ending inventory and cost of goods sold at March 31, using the specific identification method.

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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  1. the information regarding the sales was missing, so I looked for similar questions:

    The March 5 sale consists of bikes from beginning inventory, the March 17 sale consists of bikes from the March 9 purchase, and the March 27 sale consists of four bikes from beginning inventory and eight bikes from the March 22 purchase.

    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

    Cost of good sold under specific identification:

    March 5 sale = $250 x 15 = $3,750

    March 17 sale = 8 x $270 = $2,160

    March 27 sale = 12 x $280 = $3,360

    total COGS = $9,270

    Ending inventory = $13,200 - $9,270 = $3,930

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