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The following information is available for Garrett Inc. Date Item Units Unit Cost Oct. 1 Beg. Bal. 40 $5.00 Oct. 5 Purchase 60 5.20 Oct.
The following information is available for Garrett Inc.
Date | Item | Units | Unit Cost |
Oct. 1 | Beg. Bal. | 40 | $5.00 |
Oct. 5 | Purchase | 60 | 5.20 |
Oct. 15 | Purchase | 100 | 5.40 |
Oct. 25 | Purchase | 50 | 5.50 |
Garrett Inc. uses the specific identification inventory method to value month-end inventory. Garrett determines that the ending inventory units consist of 5 units from beginning inventory, 30 units from the October 15th purchase, and 35 units from the October 25th purchase. What is Garretts ending inventory for the month of October?
383
356
1,327
379.50
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