Question
A company had the following purchases during the current year: January: 17 units at $127 February: 27 units at $137 May: 22 units at $147
A company had the following purchases during the current year: January: 17 units at $127 February: 27 units at $137 May: 22 units at $147 September: 19 units at $157 November: 17 units at $167 On December 31, there were 61 units remaining in ending inventory. These 61 units consisted of 9 from January, 11 from February, 13 from May, 11 from September, and 17 from November. Using the specific identification method, what is the cost of the ending inventory?
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Intermediate Accounting
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
1st edition
978-0133251579, 133251578, 013216230X, 978-0134102313, 134102312, 978-0132162302
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