A company's inventory records show the following data for the month of December. Units Acquired at Cost 820 units @ $36= $29,520 700 units @ $40 = $28,000 Date Activities December 1 Beginning inventory December 8 December 11 December 13 December 24 December 30 Purchase Sale Purchase Purchase Sale Specific Identification Beginning inventory Purchases: December 8 December 13 December 24 Determine the cost assigned to ending inventory using the specific identification method. Ending inventory consists of 310 units from the December 24 purchase, 260 units from the December 13 purchase, 270 units from the December 8 purchase, and 160 units from beginning inventory. Total 620 units @ $44= $27,280 600 units @ $50 = $30,000 Cost of Goods Available for Sale Cost of Goods Available for Sale Number Cost per unit of units Cost of Goods Sold Number of units sold Cost per unit Units Sold at Retail Cost of Goods Sold 1,020 units @ $70 720 units @ $71 Ending Inventory Number of units in ending inventory Cost per unit Ending Inventory

A company's inventory records show the following data for the month of December. Determine the cost assigned to ending inventory using the specific identification method. Ending inventory consists of 310 units from the December 24 purchase, 260 units from the December 13 purchase, 270 units from the December 8 purchase, and 160 units from beginning inventory