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Using the following 2 tables, answer the next four questions (Assuming Periodic Method). Table of Inventory Purchases 31. 32. Date Units Unit Cost Total
Using the following 2 tables, answer the next four questions (Assuming Periodic Method). Table of Inventory Purchases 31. 32. Date Units Unit Cost Total cost Beginning Inventory 10 $3 $30 February 3 5 4 20 April 10 15 5 75 June 12 12 7 84 August 20 20 8 160 Total 62 369 Sales Date Units Identified Units Price Total March 5 February 5 $6 $30 May 2 April 10 6 60 July 4 June 2 10 20 September 1 June 8 10 80 25 $190 Determine the cost of ending inventory under the specific identification method. a. $190 b. $229 c. $160 d. $369 Determine the FIFO cost of ending inventory. b. a. $179 $190 C. $269 d. $369
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