A company had the following purchases during its first year of operations: anuar

Question

A company had the following purchases during its first year of operations: anuary: February: May: September: November: Purchases 16 units at $126 26 units at $136 21 units at $146 18 units at $156 16 units at $166 On December 31, there were 56 units remaining in ending inventory. These 56 units consisted of 8 from January. 10 from February, 12 from May, 10 from September, and 16 from November. Using the specific identification method, what is the cost of the ending inventory? Multiple Choice $8,336 $8,170. $6,976 $8,502 $7088

Explanation / Answer

CALCULATE COST OF ENDING INVENTORY :

Ending inventory = (8*126+10*136+12*146+10*156+16*166) = 8336

so answer is a) $8336

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