On december 31, there were 40 units remaining in ending inventory. these 40 units consisted of 5 from january, 6 from february, 10 from may, 4 from september, and 15 from november. using the specific identification method, what is the cost of the ending inventory?

$5,675

Step-by-step explanation:

Step-by-step explanation:

Calculation for the cost of the ending inventory using specific identification method.

Using this formula

Cost of ending inventory =

(January units ×January cost) +( February units ×February cost) + (May units × May cost) + (September units ×September cost) + (November units × November cost)

Cost of ending inventory =

January 5 units ×$116=$580

February 6 units ×$127=$762

May 10 units ×$139=$1,390

September 4 units ×$147=$588

November 15 units×$157=$2,355

Total =$5,675

Therefore the ending inventory using the specific identification method will be $5,675