A company had the folowing purchases during its first year of operations Purchases January, 10 units at $120 February 20 units at $130 May 15 units at 5140 September. 12 units at $150 November: 10 units at $160 On December 31, there were 26 units remaining in ending inventory. These 26 units consisted of 2 from January, 4 from february, 6 from May, 4 trom September, and 10 from November. Lising the specific identification method, what is the cost of the ending inventory?
A company had the folowing purchases during its first year of operations Purchases January, 10 units at $120 February 20 units at $130 May 15 units at 5140 September. 12 units at $150 November: 10 units at $160 On December 31, there were 26 units remaining in ending inventory. These 26 units consisted of 2 from January, 4 from february, 6 from May, 4 trom September, and 10 from November. Lising the specific identification method, what is the cost of the ending inventory?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 8P: Comprehensive The following information for 2019 is available for Marino Company: 1. The beginning...
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A company had the folowing purchases during its first year of operations Purchases January, 10 units at $120 February 20 units at $130 May 15 units at 5140 September. 12 units at $150 November: 10 units at $160 On December 31, there were 26 units remaining in ending inventory. These 26 units consisted of 2 from January, 4 from february, 6 from May, 4 trom September, and 10 from November. Lising the specific identification method, what is the cost of the ending inventory?
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