Question - A company made the following purchases during the year:
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Jan. 10
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15 units at
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$360 each
|
|
Mar. 15
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25 units at
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$390 each
|
|
Apr. 25
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10 units at
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$420 each
|
|
July 30
|
20 units at
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$450 each
|
|
Oct. 10
|
15 units at
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$480 each
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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.