A company had the following purchases during the current year: January: 7 units at $105 February: 12…
A company had the following purchases during the current year: January: 7 units at $105 February: 12 units at $130 May: 13 units at $130 October: 14 units at $110 November: 13 units at $140 On December 31, there were 23 units remaining in ending inventory. These 23 units consisted of 2 from January, 5 from February, 5 from May, 6 from October, and 5 from November. Using the specific identification method, what is the cost of the ending inventory? $2,870 $2,720 $1,515 $3,985 $3,220
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