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Metlock has the following inventory data:
Nov. 1 Inventory 27 units @ $5.40 each
8 Purchase 108 units @$5.580 each
17 Purchase 54 units @$5.65 each
25 Purchase 81 units @$5.90 each
Problem 1: A physical count of merchandise inventory on November 30 reveals that there are 90 units on hand. Assuming that the specific identification method is used and that ending inventory consists of 27 units from each of the three purchases and 9 units from the November 1 inventory, cost of goods sold is?
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