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Grouper Corporation began operations on December 1, 2019. The only inventory transaction in 2019 was the purchase of inventory on December 10, 2019, at a
Grouper 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 $25 per unit. None of this inventory was sold in 2019. Relevant information for fiscal 2020 is as follows: Ending inventory units: December 31, 2019 130 December 31, 2020, by purchase date -Dec. 2, 2020 130 - July 20, 2020 30 160 During 2020, the following purchases and sales were made: Purchases Sales Mar. 15 340 units at $26 Apr. 10 210 July 20 340 units at $27 Aug. 20 280 Sept. 4 280 units at $30 Nov. 18 170 Dec. 2 130 units at $31 Dec. 12 400 The company uses the periodic inventory method. Your answer is incorrect. Determine ending inventory under specific identification. $ Ending inventory
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