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Current Attempt in Progress Swifty Corporation began operations on December 1, 2022. The only inventory transaction in 2022 was the purchase of inventory on December
Current Attempt in Progress Swifty Corporation began operations on December 1, 2022. The only inventory transaction in 2022 was the purchase of inventory on December 10, 2022, at a cost of $23 per unit. None of this inventory was sold in 2022. Relevant information for fiscal 2023 is as follows: Ending inventory units: Dec. 31, 2022 Dec. 31, 2023, by purchase date Dec. 2,2023 July 20, 2023 120 120 31 151 During 2023, the following purchases and sales were made: Purchases Sales Mar. 15 320 units at $26 Apr. 10 200 July 20 320 units at $27 Aug. 20 310 Sept. 4 240 units at $29 Nov. 18 180 Dec. 2 120 units at $32 Dec. 12 279 The company uses the periodic inventory method. (a1) Determine ending inventory under specific identification. Ending inventory
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