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Specific identification method. Boston Galleries uses the specific identification method for inventory valuation. Inventory information for several oil paintings follows.

05 / 03 / 2018 Assignment

This paper circulates around the core theme of Specific identification method. Boston Galleries uses the specific identification method for inventory valuation. Inventory information for several oil paintings follows. together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 45. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.

Specific
identification method
. Boston Galleries uses the specific identification
method for inventory valuation. Inventory information for several oil paintings
follows.

Painting

Cost

1/2 Beginning inventory

Woods

$11,000

4/19 Purchase

Sunset

21,800

6/7 Purchase

Earth

31,200

12/16 Purchase

Moon

4,000





Woodsand Moon
were sold during the year for a total of $35,000. Determine the firm’s

a.
cost of goods sold.

b.
gross profit.

c. ending inventory.


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