A company made the following purchases during the year:Jan. 1015 units @ $360 eachMar. 1525 units @ $390 eachApr. 2510 units @ $420 eachJuly 3020 units @ 450 eachOct. 1015 units @ $480 eachOn December 31, there were 28 units in ending inventory. These 28 units consisted of 2 from the January 10 purchase, 3 from the March 15 purchase, 4 from the April 25 purchase, 11 from the July 30 purchase, and 8 from the October 10 purchase. Using specific identification, calculate the cost of the ending inventory.
What will be an ideal response?
| 2 * $360 | = | $720 |
| 3 * $390 | = | 1,170 |
| 4 * $420 | = | 1,680 |
| 11 * $450 | = | 4,950 |
| 8 * $480 | = | 3,840 |
| ? | ? | $12,360 |
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