Specific identification method_Inventory valuation

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A company had the following purchases during the current year:

 

  January:

 18 units at $128

  February:

 28 units at $138

  May:

 23 units at $148

  September:

 20 units at $158

  November:

 18 units at $168

 

On December 31, there were 58 units remaining in ending inventory. These 58 units consisted of 10 from January, 12 from February, 14 from May, 12 from September, and 10 from November. Using the specific identification method, what is the cost of the ending inventory?

 

 

 
 

$= 6,928.

[removed]

$7,004.

[removed]

$8,584.

[removed]

$8,752.

[removed]

$8,416.

    • 13 years ago
    Specific identification method_Inventory valuation
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