A Company Made the Following Purchases During the Year On December 31, There Were 28 Units in Ending Inventory

question 120

Essay

A company made the following purchases during the year:
$$\begin{array} { | l | l | } \hline \text { Jan. 10 } & 15 \text { units @ \$360 each } \\\hline \text { Mar. 15 } & 25 \text { units @ \$390 each } \\\hline \text { Apr. 25 } & 10 \text { units @ \$420 each } \\\hline \text { July 30 } & 20 \text { units @ 450 each } \\\hline \text { Oct. 10 } & 15 \text { units @ \$480 each } \\\hline\end{array}$$ On December 31, there were 28 units in ending inventory. These 28 units consisted of 2 from the January 10 purchase, 3 from the March 15 purchase, 4 from the April 25 purchase, 11 from the July 30 purchase, and 8 from the October 10 purchase. Using specific identification, calculate the cost of the ending inventory.

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Definitions:

Developed Nations

Countries with relatively high levels of industrialization, income per capita, and standards of living.

Vitamins

Organic compounds required in small amounts for essential metabolic reactions in the body, often obtained through the diet.

Minerals

Natural, inorganic substances that are essential for various bodily functions, including building bones and making hormones.

Thyroid-Stimulating Hormone

A hormone produced by the pituitary gland that regulates the production of hormones by the thyroid gland.