Kirk's Sales Ltd., a small Ford dealership, has provided you with the following information with respect to its vehicle inventory for the month of May. The company uses the specific identification cost formula. Date May Explanation 1 Beginning inventory 8 Sales 13 Purchases 19 Sales Model Taurus F-150 F-150 Mustang Flex Taurus Mustang Mustang Flex Escape Mustang Flex Mustang Serial # C81362 F1883 F1921 G62313 X3892 C81362 G62313 G71811 X4214 E21202 G71891 X4212 G71891 Unit Cost/Price $24,000 24,300 28,800 29,400 31,300 25,200 32,800 30,400 31,000 29,000 27,700 30,000 33,200

Kirk's Sales Ltd., a small Ford dealership, has provided you with the following information with respect to its vehicle inventory for the month of May. The company uses the specific identification cost formula. Date May Explanation 1 Beginning inventory 8 Sales 13 Purchases 19 Sales Model Taurus F-150 F-150 Mustang Flex Taurus Mustang Mustang Flex Escape Mustang Flex Mustang Serial # C81362 F1883 F1921 G62313 X3892 C81362 G62313 G71811 X4214 E21202 G71891 X4212 G71891 Unit Cost/Price $24,000 24,300 28,800 29,400 31,300 25,200 32,800 30,400 31,000 29,000 27,700 30,000 33,200

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Description: Please do not give solution in image format thanku (a)19 Sales23 PurchasesCost of Goods Sold $FlexEnding InventoryMustangF-150FlexEscapeTaurusEscapeX4212G71891F1921X3892E21202C81528E28268Determine the cost of goods sold and ending inventory for the m

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 7MCQ

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