Stannard PC Plus, Inc. repairs & sells new computers. The ending balance in the inventory account on September 30, 2012 was 7 units at $235 per unit. The company uses a perpetual inventory system and has the following transactions during October 2012.
| Date | Description | Quantity | Cost Per |
| Oct 4 | Purchase | 10 | $280 |
| Oct 11 | Sold | 14 | |
| Oct 17 | Purchase | 40 | $205 |
| Oct 22 | Sold | 2 | |
| Oct 26 | Purchase | 13 | $200 |
| Oct 30 | Sold | 43 |
Create a perpetual inventory record assuming Specific Identification inventory costing.
Instructions for specific identification method:
- Of the 14 items that were sold on October 11; 5 of them were sold from the beginning inventory and 9 of the were sold from the October 4th purchase.
- The 2 items that were sold on October 22 were sold from the October 17th purchase
- Of the 43 items that were sold on October 30; 2 of them were sold from the beginning inventory, 1 was sold from the October 4th purchase, 31 were sold from the October 17th purchase, and 9 were sold from the October 26th purchase.
| Purchases | Cost of Goods Sold | Inventory on Hand | |||||||
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