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Calculate the cost of goods sold for the month

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Question - In October, Claire's Gallery purchased four original paintings for resale for the following amounts: Painting 1, $1000; Painting 2, $2000; Painting 3, $3000; and Painting 4, $4000. Paintings 3 and 4 were sold during October for $6,500 each. Calculate the cost of goods sold for the month and the ending inventory balance on October 31 using specific identification.

Reference no: EM132986582

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