Specific identification method_Inventory valuation
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.
$7,004.
$8,584.
$8,752.
$8,416.
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