Question
EastPoint Toyota, a small dealership, has provided you with the following information with respect to its...
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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