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Flint Corporation began operations on December 1, 2019. The only inventory transaction in 2019 was the purchase of inventory on December 10, 2019, at a

Flint Corporation began operations on December 1, 2019. The only inventory transaction in 2019 was the purchase of inventory on December 10, 2019, at a cost of $20 per unit. None of this inventory was sold in 2019. Relevant information for fiscal 2020 is as follows:

Ending inventory units:

December 31, 2019 : 140

December 31, 2020, by purchase date

?Dec. 2, 2020 : 140

?July 20, 2020 :32172

During 2020, the following purchases and sales were made:

image text in transcribed
December 31, 2019 140 December 31, 2020, by purchase date -Dec. 2, 2020 140 -July 20, 2020 32 172 During 2020, the following purchases and sales were made: tudy Purchases Sales Mar. 15 310 units at $24 Apr. 10 200 July 20 310 units at $27 Aug. 20 290 Sept. 4 210 units at $29 Nov. 18 170 Dec. 2 140 units at $31 Dec. 12 278 The company uses the periodic inventory method. Determine ending inventory under specific identification. Ending inventory $ LINK TO TEXT LINK TO TEXT Determine ending inventory under FIFO. esea. ...docx Al Homeland Researchof O (20 W

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