A company made the following purchases during the year:
$$\begin{array} { | l | l | }
\hline \text { Jan. 10 } & 15 \text { units @ \$360 each } \
\hline \text { Mar. 15 } & 25 \text { units @ \$390 each } \
\hline \text { Apr. 25 } & 10 \text { units @ \$420 each } \
\hline \text { July 30 } & 20 \text { units @ 450 each } \
\hline \text { Oct. 10 } & 15 \text { units @ \$480 each } \
\hline
\end{array}$$ On December 31, there were 28 units in ending inventory. These 28 units consisted of 2 from the January 10 purchase, 3 from the March 15 purchase, 4 from the April 25 purchase, 11 from the July 30 purchase, and 8 from the October 10 purchase. Using specific identification, calculate the cost of the ending inventory.

Question

A company made the following purchases during the year:
 $$\begin{array} { | l | l | } 
\hline \text { Jan. 10 } & 15 \text { units @ \$360 each } \
\hline \text { Mar. 15 } & 25 \text { units @ \$390 each } \
\hline \text { Apr. 25 } & 10 \text { units @ \$420 each } \
\hline \text { July 30 } & 20 \text { units @ 450 each } \
\hline \text { Oct. 10 } & 15 \text { units @ \$480 each } \
\hline
\end{array}$$ On December 31, there were 28 units in ending inventory. These 28 units consisted of 2 from the January 10 purchase, 3 from the March 15 purchase, 4 from the April 25 purchase, 11 from the July 30 purchase, and 8 from the October 10 purchase. Using specific identification, calculate the cost of the ending inventory.

Quizplus · Accepted Answer

The Answer of A company made the following purchases during the year:
 $$\begin{array} { | l | l | } 
\hline \text { Jan. 10 } & 15 \text { units @ \$360 each } \
\hline \text { Mar. 15 } & 25 \text { units @ \$390 each } \
\hline \text { Apr. 25 } & 10 \text { units @ \$420 each } \
\hline \text { July 30 } & 20 \text { units @ 450 each } \
\hline \text { Oct. 10 } & 15 \text { units @ \$480 each } \
\hline
\end{array}$$ On December 31, there were 28 units in ending inventory. These 28 units consisted of 2 from the January 10 purchase, 3 from the March 15 purchase, 4 from the April 25 purchase, 11 from the July 30 purchase, and 8 from the October 10 purchase. Using specific identification, calculate the cost of the ending inventory.

A Company Made the Following Purchases During the Year On December 31, There Were 28 Units in Ending Inventory