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A company had the following purchases during its first year of operations: On December 31, there were 51 units remaining in ending inventory. These 51
A company had the following purchases during its first year of operations:
On December 31, there were 51 units remaining in ending inventory. These 51 units consisted of 7 from January, 9 from February, 11 from May, 9 from September, and 15 from November. Using the specific identification method, what is the cost of the ending inventory?
Purchases | |
January: | 15 units at $125 |
February: | 25 units at $135 |
May: | 20 units at $145 |
September: | 17 units at $155 |
November: | 15 units at $165 |
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