Alphabet Company,which Uses the Periodic Inventory Method,buys Different Letters for Resale.It

question 39

Multiple Choice

Alphabet Company,which uses the periodic inventory method,buys different letters for resale.It buys A through G in January at $4 per letter.It buys H through L at $6 per letter.It buys M through R in March at $7 per letter.It sells A,D,E,H,J and N in April. If the company uses the specific identification method,what is the cost of its ending inventory?

• A)$31
• B)$69
• C)$76
• D)$100

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Definitions:

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