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A company had the following purchases during the current year:

January: 30 units at $125
February: 40 units at $135
May: 35 units at $145
September: 32 units at $155
November: 30 units at $165

On December 31, there were 76 units remaining in ending inventory. These 76 units consisted of 12 from January, 14 from February, 16 from May, 14 from September and 20 from November. Using the specific identification method, what is the cost of the ending inventory?

$10,880
$11,180
$10,260
$11,020
$11,780

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91220239

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