Specific identification methofd_Boston Galleries

1.  Specific identification methofd. Boston Galleries uses the specific identification method for inventory valuation. Inventory information for several oil paintings follows. 

Painting Cost
1/2 Beginning inventory                    Woods        $21,000 
4/19 Purchase                          Sunset         21,800 
6/7 Purchase                            Earth                    31,200 
12/16 Purchase                        Moon          4,000 

          Woods and Moon were sold during the year for a total of $35,000.

Determine the firm’s 
a. cost of goods sold. 

b. gross profit

c. ending inventory.