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A company had the following purchases during the current year: January: 16 units at $126 February: 26 units at $136 May: 21 units at $146
A company had the following purchases during the current year: |
January: | 16 units at $126 |
February: | 26 units at $136 |
May: | 21 units at $146 |
September: | 18 units at $156 |
November: | 16 units at $166 |
On December 31, there were 56 units remaining in ending inventory. These 56 units consisted of 8 from January, 10 from February, 12 from May, 10 from September, and 16 from November. Using the specific identification method, what is the cost of the ending inventory? $8,336. $8,170. $7,088. $8,502. $6,976. |
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