I need help figuring out the Specific Identification. Document Preview: -~tJrl tulil tl fJ.JV1 WJ EXAMPLE #4: Cost Flow Assumptions The Griggs Company had the following transactions concerning one of their products this year: January 1st Beginning Inventory Balanceú Purchases: February 4th April 2nd Sales: _ February zo November 4th 1000 units @$12 2000 units @$18 3000 units @$22 2500 units 2000 units Instructions: I 0 ~ D (1) Compute the Cost of Goods Available for Sale -..!..-lJ I(2) Compute the Cost of Goods Sold {COGS}and Ending Inventory using the following methods: Specific Identification *(Assume EI = 500 from each purchase) Average Cost {Weighted Average} Average Cost {Moving Average} FIFO {Periodic & Perpetual} UFO {Periodic & Perpetual} (3) Use the following table to record your answers COGS Specific Average Cost Average Cost Identification (Wtd. Average) (Moving Average) Ending Inventory COGS FIFO FIFO LIFO LIFO (Periodic) (Perpetual) (Periodic) (Perpetual) Ending Inventory L Attachments: Cost-Flow-Ass.pdf