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Jewels Inc sells jewelry and its accounting records showed the following details for the month of July: (1) Beginning inventory, July 1: 100 units with
Jewels Inc sells jewelry and its accounting records showed the following details for the month of July: (1) Beginning inventory, July 1: 100 units with a unit cost of $1,500 each. (2) Purchase, July 5: 300 units with a unit cost of $1,550 each. (3) Sale, July 10: 200 units were sold at $2,000 each. (4) Purchase, July 20: 100 units with a unit cost of $1,575 each. (5) Sale, July 25: 200 units were sold at $2,100 each. On July 31, Jewels Inc. counted the inventory on hand and determined that the unsold units were from the purchase made on July 20. If Jewels Inc. uses the specific identification costing method, what is the cost of ending inventory at the end of July? O a. $150,000 O b. $155,000 O c. $200,000 O d. None of the other alternatives are correct O e. $157,500
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