The following items were purchased by Kudos Leather Goods during the month of April: April 2 34

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The following items were purchased by Kudos Leather Goods during the month of April:

April 2           34 wallets @ $12.95 each

April 8          24 wallets @ $13.10 each

April 18        15 wallets @ $13.25 each

April 26        20 wallets @ $13.27 each

On April 1 the business had in inventory 19 wallets valued at $12.90 each. On April 30 the business had 36 wallets in inventory; of these wallets, 8 were purchased on April 2, 15 were purchased on April 8, 3 were purchased on April 18, and 10 were purchased on April 26. Instructions In your working papers, calculate the cost of the ending inventory using: 

a. The specific identification method

b. The FIFO method

c. The LIFO method

d. The weighted average method

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