Determine the cost of goods sold and ending inventory for, Accounting Basics

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Determine the cost of goods sold and ending inventory for

Problem

On January 3, Piano Corp. purchased 6 portable electronic keyboards for $434 each. On January 20, it purchased 5 more of the same model keyboards for $540 each. During the month, it sold 3 keyboards; 1 was purchased on January 3 and the other 2 were purchased on January 20.

Calculate the cost of goods sold and ending inventory for the month using specific identification.

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Accounting Basics: Determine the cost of goods sold and ending inventory for

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Accounting Basics: Determine the cost of goods sold and ending inventory for

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