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A company's inventory records indicate the following data for the month of April: Date Activities Units Acquired at Cost Units Sold at Retail April 1
A company's inventory records indicate the following data for the month of April: Date Activities Units Acquired at Cost Units Sold at Retail April 1 Beginning inventory 720 units @ $36 = $25,920 April 7 Purchase 600 units @ $40 = $24,000 April 11 Sale 1,040 units @ $110 April 16 Purchase 520 units @ $44 = $22,880 April 22 Sale 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 220 units from the April 16 purchase, 80 units from the April 7 purchase, and 100 units from beginning inventory
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