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Synergy Company began 2023 with 18,500 units of Product X in its inventory that cost $7.40 per unit, and it made successive purchases of the
Synergy Company began 2023 with 18,500 units of Product X in its inventory that cost $7.40 per unit, and it made successive purchases of the product as follows: Mar. 7 25,588 units @ % 8.9@ each May 25 308,580 units @ $18.98 each Aug. 1 21,828 units @ $13.10 each Now . 1@ 39,588 units @ % 14.8@ each - sm The company uses a periodic inventory system. On December 31, 2023, a physical count disclosed that 14,500 units of Product X remained in inventory. Required: 1. Calculate the number and total cost of the units available for sale during 2023. ' e Answer is complete but not entirely correct. Total cost of the units b 1,417,700 o 2. Prepare calculations showing the amounts that should be assigned to the 2023 ending inventory and to cost of goods sold, assuming: a. FIFO Total cost of the units for sale Cost of units sold 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 sold _
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