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A company had the following purchases during its first year of operations: Purchases January: 15 units at $90 February: 21 units at $110 May: 17
A company had the following purchases during its first year of operations:
| Purchases |
January: | 15 units at $90 |
February: | 21 units at $110 |
May: | 17 units at $130 |
September: | 14 units at $160 |
November: | 12 units at $190 |
On December 31, there were 35 units remaining in ending inventory. These 35 units consisted of 7 from January, 3 from February, 7 from May, 8 from September, and 10 from November. Using the specific identification method, what is the cost of the ending inventory?
4,220 | ||
5,600 | ||
5,050 | ||
6,650 |
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