ID Help Save Exit Subn A company had the following pu

?? ?? ???? ?? ?? ?? ID Help Save & Exit Subn A company had the following purchases during its first year of operations: 10 units at $120 20 units at $130 15 units at $140 12 units at $150 10 units at $160 January: February: September: November: On December 31, there were 26 units remaining in ending inventory. These 26 units consisted of 2 from January, 4 from February. 6 from May, 4 from September, and 10 from November. Using the specific identification method, what is the cost of the ending inventory? ? $3,640. $3.280.

Solution

21.    $3800 ,

Cost of ending inventory = 2 unit from January @ $120 = 240

= 4 unit from feb @ $130 = 520

= 6 unit from May @ $140 = 840

= 4 unit from sept @ $150 = 600

= 10 unit from Nov. @ $160 = 1600   

26 units = $3800

22. weighted average , this method calculated the cost per unit by considering the Total cost of goods available and Total goods available,