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Problem 6-18A Alternative cost flows-perlodic LOS Synergy Company began 2020 with 16.000 units of Product X in its inventory that cost $6.90 per unit, and
Problem 6-18A Alternative cost flows-perlodic LOS Synergy Company began 2020 with 16.000 units of Product X in its inventory that cost $6.90 per unit, and it made successive purchases of the product as follows: Mar. May Aug Nov. 7 23,000 units @ $ 8.40 each 25 28,000 units @ $10.49 each 1 18,500 units @ $13.60 each 10 28,000 units @ $ 15.10 each The company uses a periodic inventory system. On December 31, 2020. a physical count disclosed that 12.000 units of Product X remained in inventory. Required: 1. Calculate the number and total cost of the units available for sale during 2020. Number of units Total cost of the units 2. Prepare calculations showing the amounts that should be assigned to the 2020 ending inventory and to cost of goods sold. assuming: .. FIFO Total cost of the units for sale
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