A company's inventory records show the following data for the month of December. Units Acquired at Cost 900 units @ $36= $32,400 780 units @ $40= $31,200 Date December 1 December 8 December 11 December 13 December 24 December 30 Sale Activities Beginning inventory Purchase Beginning inventory Purchases: Specific Identification December 8 December 13 December 24 Sale Purchase Purchase Total 800 units @ $71 Determine the cost assigned to ending inventory using the specific identification method. Ending inventory consists of 350 units from the December 24 purchase, 300 units from the December 13 purchase, 310 units from the December 8 purchase, and 200 units from beginning inventory. 700 units @ $44= $30,800 680 units @ $50 $34,000 Cost of Goods Available for Sale Cost of Goods Number Cost per Available for Sale of units unit 0 $ 0 Cost of Goods Sold Number of units sold Cost per unit Units Sold at Retail Cost of Goods Sold 1,100 units @ $70 Ending Inventory Number of units in ending inventory Cost Ending per unit Inventory S O

A company's inventory records show the following data for the month of December. Units Acquired at Cost 900 units @ $36= $32,400 780 units @ $40= $31,200 Date December 1 December 8 December 11 December 13 December 24 December 30 Sale Activities Beginning inventory Purchase Beginning inventory Purchases: Specific Identification December 8 December 13 December 24 Sale Purchase Purchase Total 800 units @ $71 Determine the cost assigned to ending inventory using the specific identification method. Ending inventory consists of 350 units from the December 24 purchase, 300 units from the December 13 purchase, 310 units from the December 8 purchase, and 200 units from beginning inventory. 700 units @ $44= $30,800 680 units @ $50 $34,000 Cost of Goods Available for Sale Cost of Goods Number Cost per Available for Sale of units unit 0 $ 0 Cost of Goods Sold Number of units sold Cost per unit Units Sold at Retail Cost of Goods Sold 1,100 units @ $70 Ending Inventory Number of units in ending inventory Cost Ending per unit Inventory S O

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Description: Please do not give solution in image format thanku A company's inventory records show the following data for the month of December.Units Acquired at Cost900 units @ $36= $32,400780 units @ $40 = $31,200DateActivitiesDecember 1 Beginning inventoryDece

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter13: Accounting For Merchandise Inventory

Section: Chapter Questions

Problem 1MP: Hurst Companys beginning inventory and purchases during the fiscal year ended December 31, 20-2,...

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