Determine the cost assigned to ending inventory


Problem: 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 175 units @ $36 = $6, 300 April 7 Purchase 145 units @ $40 = $5, 800 April 11 Sale 250 units @ $110 April 16 Purchase 125 units @ $44 = $5, 500 April 22 Sale 100 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 25 units from the April 16 purchase, 45 units from the April 7 purchase, and 25 units from beginning inventory. Multiple Choice $3,420. O $3,800. O $13,800. O $10,180. $4180.

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Accounting Basics: Determine the cost assigned to ending inventory
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