A company had the following purchases during the current year: On December 31, there were 26 units remaining in ending inventory. These 26 units consisted of 2 from January, 4 from February, 6 from May, 4 from September, and 10 from November. Using the specific identification method, what is the cost of the ending inventory?
A) $3,500.
B) $3,800.
C) $3,960.
D) $3,280.
E) $3,640.

Question

A company had the following purchases during the current year:  On December 31, there were 26 units remaining in ending inventory. These 26 units consisted of 2 from January, 4 from February, 6 from May, 4 from September, and 10 from November. Using the specific identification method, what is the cost of the ending inventory?
A) $3,500. 
B) $3,800. 
C) $3,960. 
D) $3,280. 
E) $3,640.

Quizplus · Accepted Answer

The Answer of A company had the following purchases during the current year:  On December 31, there were 26 units remaining in ending inventory. These 26 units consisted of 2 from January, 4 from February, 6 from May, 4 from September, and 10 from November. Using the specific identification method, what is the cost of the ending inventory?
A) $3,500. 
B) $3,800. 
C) $3,960. 
D) $3,280. 
E) $3,640.

A Company Had the Following Purchases During the Current Year