The periodic inventory records of Synergy

Synergy Prosthetics indicate the following for the month of October

Data Table

Oct.

1

Beginning merchandise inventory

18

units

@

$

55

each

8

Purchase

15

units

@

$

60

each

15

Purchase

12

units

@

$

61

each

26

Purchase

11

units

@

$

62

each

October 31, Synergy

Synergy counts nine

nine units of inventory on hand.

Compute ending merchandise inventory and cost of goods sold for Synergy

Synergy using the FIFO inventory costing method.

FIFO Cost

Ending Merchandise Inventory

Cost of Goods Sold