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Alphabet Company, which uses the periodic inventory method, purchases different letters for resale. Alphabet had no beginning inventory. It purchased A thru G in January
Alphabet Company, which uses the periodic inventory method, purchases different letters for resale. Alphabet had no beginning inventory. It purchased A thru G in January at $2.00 per letter. In February, it purchased H thru L at $4.00 per letter. It purchased M thru R in March at $5.00 per letter. It sold A, D, E, H, J and N in October. There were no additional purchases or sales during the remainder of the year. |
If Alphabet Company uses the specific identification method, what is the cost of its ending inventory? |
$46
$21
$45
$64
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