Company had the following purchases during the current year: january: 20 units a

Question

Company had the following purchases during the current year: january: 20 units at $130 A company had the following purchases during the current year Januar February 20 units at $130 30 units at $140 25 units at $150 22 units at $160 20 units at $170 September November On December 31, there were 51 units remaining in ending inventory These 51 units consisted of 7 from January. 9 from February. 11 from May. 9 from September ond 15 from November. Using the specific identification method, what is the cost of the ending inventory? O $7650 O $7810 O $7340 O $8160 O $7.510

Explanation / Answer

Answer is $7,810

Units - a rate - b Amount - c=a*b Balance from January 7 $    130 $                     910 Balance from February 9 $    140 $                  1,260 Balance from May 11 $    150 $                  1,650 Balance from September 9 $    160 $                  1,440 Balance from November 15 $    170 $                  2,550 Ending inventory 51 $                  7,810

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