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Synergy Company began 2023 with 16,500 units of Product X in its inventory that cost $7.00 per unit, and it made successive purchases of the
Synergy Company began 2023 with 16,500 units of Product X in its inventory that cost $7.00 per unit, and it made successive purchases of the product as follows: # Mar. May Aug- Nov. The company uses a periodic inventory system. On December 31, 2023, a physical count disclosed that 12,500 units of Product X remained in inventory. Required: 1. Calculate the number and total cost of the units available for sale during 2023. * Number of units Total cost of the units 2. Prepare calculations showing the amounts that should be assigned to the 2023 ending inventory and to cost of goods sold, assuming: 7 23,500 units @ $8.50 each 25 28,500 units @$10.50 each 1 19,000 units @ $13.50 each 10 28,500 units @$15.00 each 3 E D $ 4 R F % 5 V Q Search F6 7 T G 6 B F7 4+ Y & H 7 FB F11 DAI L mung A ALT F12 P 3 PRT SC ? + Land 11 G 1 CTRL
purchases of itwe product as follown. The company ruses a periodic inventory syctem. On Decenber 37,2022 a physicai caunt disclosed that 12,500 unins of Product X temained in imvertory. Required: 2. Prepare calculations showing the amounts that should be assgend so the 2023 ending inveritory and to cost of gopds sold, assuming purchases of itwe product as follown. The company ruses a periodic inventory syctem. On Decenber 37,2022 a physicai caunt disclosed that 12,500 unins of Product X temained in imvertory. Required: 2. Prepare calculations showing the amounts that should be assgend so the 2023 ending inveritory and to cost of gopds sold, assumingStep by Step Solution
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