Question
A company had the following purchases during its first year of operations: Purchases January: 24 units at $115 February: 34 units at $126 May: 29
A company had the following purchases during its first year of operations:
| Purchases | |
| January: | 24 units at $115 |
| February: | 34 units at $126 |
| May: | 29 units at $138 |
| September: | 26 units at $146 |
| November: | 24 units at $156 |
On December 31, there were 45 units remaining in ending inventory. These 45 units consisted of 6 from January, 7 from February, 11 from May, 5 from September, and 16 from November. Using the specific identification method, what is the cost of the ending inventory?
Multiple Choice
-
$5,434.
-
$5,440.
-
$6,160.
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$6,316.
-
$6,472.
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
