How to figure out the specific identification method?
This is what I was given to answer: Use this inventory information for the month of June to answer the following question.
June 1 Beginning inventory 10 units @ $120
5 Purchase 60 units @ $112
14 Sale 40 units
21 Purchase 30 units @ $116
30 Sale 28 units
What is cost of goods sold under the Specific Identification Method?Assuming the periodic method was used
a) More information is needed.
b) $3,704
c) $7,696
d) $7,736
Please help
Comment on student 101's post
Accounting is so hard for me to understand, the answer was extremely helpful, I understood it.