Question

In October, Cullumber Company purchased four original paintings for resale for the following amounts: Painting 1, $1,790; Painting 2, $2,640; Painting 3, $3,570; and Painting 4, $4,410. Paintings 3 and 4 were sold during October for $6,760 each. Calculate the cost of goods sold for the month and the ending inventory balance on October 31 using specific identification.

Cost of Goods Sold
Painting		Total Cost
select a painting		$enter a dollar amount
select a painting		enter a dollar amount
Total		$enter a total amount

Ending Inventory
Painting		Total Cost
select a painting		$enter a dollar amount
select a painting		enter a dollar amount
Total		$enter a total amount

Answer 1

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