Use the information above to answer the following question.If the company uses the specific identification method,what is the cost of its ending inventory?
A)$31
B)$69
C)$76
D)$100

Question

Quizplus · Accepted Answer

The specific identification method assigns the actual cost of each unit sold to the unit. The ending inventory is the units that have not been sold, so their cost is the sum of their actual costs. In this case, the ending inventory consists of 1 unit at a cost of $69.

Use the Information Above to Answer the Following Question