Question

Friedman Company made the following purchases during the year:


January 10 15 units at $360 per unit
March 15 25 units at $390 per unit
April 25 10 units at $420 per unit
July 30 20 units at $450 per unit
October 10 15 units at $480 per unit

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.

Answer

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