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Reli Corp. sells designer T-shirts and its accounting records showed the following details for the month of July: (1) Beginning inventory, July 1: 100 units
Reli Corp. sells designer T-shirts 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 $150. (2) Purchase, July 5:200 units with a unit cost of $125. (3) Sale, July 10: 150 units were sold at $300 each. (4) Purchase, July 20: 100 units with a unit cost of \$145. (5) Sale, July 25: 200 units were sold at $330 each. On July 31, Reli Corp. counted the inventory on hand and determined that the unsold units were from the purchase made on July 20 . If Reli Corp. uses specific identification cost method, what is the cost of ending inventory at the end of July? a. $6,250 b. $7,650x c. $7,250 d. $7,500 e. $6,750
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