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A company's Inventory records indicate the following data for the month of April: Date Activities April 1 April 7 Beginning inventory Purchase Units Acquired
A company's Inventory records indicate the following data for the month of April: Date Activities April 1 April 7 Beginning inventory Purchase Units Acquired at Cost 820 units $36 = $29,520 700 units @ $40-$28,000 Units Sold at Retail April 11 Sale 1,240 units @ $1101 April 16 April 22 April 29 Purchase Sale Purchase 620 units @ $44 - $27,280 600 units $50-$30,000 400 units $110 The company uses a periodic inventory system. Determine the cost assigned to ending inventory using the specific identification method. Ending Inventory consists of 370 units from the April 29 purchase, 320 units from the April 16 purchase, 330 units from the April 7 purchase, and 100 units from beginning inventory
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