Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Help Save & Exit Submit 2. Prepare calculations showing the amounts that should be assigned to the 2023 ending inventory and to cost of goods
Help Save & Exit Submit 2. Prepare calculations showing the amounts that should be assigned to the 2023 ending inventory and to cost of goods sold assuming 9 a. FIFO 15 Total cost of the units for sale Cost of units sold 10 b. Weighted average cost basis. (Round the "Average cost per unit" answer to 2 decimal places) Total cost of the units for sale Cost of units s 9 15 points Problem 6-19A Alternative cost flows-periodic LO8 Synergy Company began 2023 with 15,500 units of Product X in its inventory that cost $6.80 per unit, and it made successive purchases of the product as follows: Mar. 7 22,500 units $ 8.30 each May Skopes Prin 25 27,500 units @ $10.30 each Aug- 1 18,000 units @$13.70 each Nov. 10 27,500 units @ $15.20 each The company uses a periodic inventory system. On December 31, 2023, a physical count disclosed that 11,500 units of Product X remained in inventory. Required: 1. Calculate the number and total cost of the units available for sale during 2023 References Number of units Total cost of the units
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started