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A company's inventory records indicate the following data for the month of April: Units Sold at Retail Units Acquired at Cost 900 units @ $36
A company's inventory records indicate the following data for the month of April: Units Sold at Retail Units Acquired at Cost 900 units @ $36 $32,400 780 units @ $40 $31,200 = = Date April 1 April 7 April 11 April 16 April 22 April 29 Activities Beginning inventory Purchase Sale Purchase Sale Purchase 1,400 units @ $110 700 units @ $44 = $30,800 400 units @ $110 680 units @ $50 = $34,000 The company uses a periodic inventory system. Determine the cost assigned to ending inventory using the specific identification method. Ending inventory consists of 450 units from the April 29 purchase, 400 units from the April 16 purchase, 410 units from the April 7 purchase, and 100 units from beginning inventory
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