A company's inventory records indicate the following data for the month of April: ...
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Accounting
A company's inventory records indicate the following data for the month of April:
Date
Activities
Units Acquired at Cost
Units Sold at Retail
April 1
Beginning inventory
730 units @ $36 = $26,280
April 7
Purchase
610 units @ $40 = $24,400
April 11
Sale
1,060 units @ $110
April 16
Purchase
530 units @ $44 = $23,320
April 22
Sale
400 units @ $110
The company uses a periodic inventory system. Determine the cost assigned to ending inventory using the specific identification method. Ending inventory consists of 230 units from the April 16 purchase, 80 units from the April 7 purchase, and 100 units from beginning inventory.
$27,920.
$16,920.
$20,460.
$20,980.
$32,850.
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