Van Dyke Company reported the following July purchases and sales data. They also had 21 units @ $24 per unit at the beginning of July. The company uses a perpetual inventory system.

Date		Purchases					Sales
		Units	Cost/Unit		Total Cost		Units
July 1	Beginning Inventory	21	$24	=	$504
July 3	Purchase	8	$21	=	$168
July 8	Sale						12
July 12	Purchase	7	$23	=	$161
July 17	Purchase	11	$20	=	$220
July 23	Sale						24
July 31	Purchase	10	$26	=	$260
	Totals	57			$1,313

 

Calculate the Cost of Goods Sold (COGS) and the Ending Inventory for the month using the Specific Indication method and the additional information below.  

Instructions for specific identification method:

1. Of the 12 items that were sold on July 8; 10 of them were sold from the beginning inventory and 2 of them were sold from the July 3rd purchase
2. The 24 items that were sold on July 23rd; 8 were sold from beginning inventory, 3 were sold from the July 3rd purchase, 5 were sold from the July 12th purchase, and 8 were sold from the July 17th purchase.

Cost of Goods Sold:  $

Ending Inventory:  $