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

question 17

Essay

A company made the following purchases during the year:
$$\begin{array} { | l | l | l | l | } \hline \text { Jan. 10 } & 15 & \text { units at } & \$ 360 \text { each } \\\hline \text { Mar. 15 } & 25 & \text { units at } & \$ 390 \text { each } \\\hline \text { Apr. } 25 & 10 & \text { units at } & \$ 420 \text { each } \\\hline \text { July } 30 & 20 & \text { units at } & \$ 450 \text { each } \\\hline \text { Oet. } 10 & 15 & \text { units at } & \$ 480 \text { each } \\\hline\end{array}$$
On December 31, there were 28 units in ending inventory. These 28 units consisted of 1 from the January 10 purchase, 2 from the March 15 purchase, 5 from the April 25 purchase, 15 from the July 30 purchase and 5 from the October 10 purchase. Using specific identification, calculate the cost of the ending inventory.

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