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Question - A company made the following purchases during the year:
Jan. 10 15 units at $360
Mar. 15 25 units at $390
Apr. 25 10 units at $420
July 30 20 units at $450
Oct. 10 15 units at $480
On December 31, there were 32 units in ending inventory. These 32 units consisted of 3 from the January 10 shipment, 4 from the March 15 shipment, 5 from the April 25 shipment, 15 from the July 30 shipment, and 5 from the October 10 shipment.
Using specific identification, calculate the cost of the ending inventory.
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Calculate the amount of accumulated depreciation on the equipment shown in the company's December 31, 2003 balance sheet
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