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Use this information to answer the following question. Note the catch here is the need to calculate the items of ending inventory that are from
Use this information to answer the following question. Note the catch here is the need to calculate the items of ending inventory that are from the October 20 purchase.
Oct.
1 Inventory 200 units @ $12.00
6 Purchase 300 units @ $13.20
13 Purchase. 100 units @ $14.40
20 Purchase 200 units @ $15.60
25 Purchase 40 units @ $16.80
Total Sales: 620 units
Using the specific identification method and assuming that 50 of the items left are from the Oct 13 purchase and and the rest are from the October 20 purchase, the cost assigned to ending inventory is
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