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Synergy Company began 2020 with 23,500 units of Product X in its inventory that cost $8.40 per unit, and it made successive purchases of the
Synergy Company began 2020 with 23,500 units of Product X in its inventory that cost $8.40 per unit, and it made successive purchases of the product as follows: Mar. May Aug. 7 30,500 units @ $ 9.90 each 25 35,500 units @ $11.99 each 1 26,eee units @ $12.99 each 10 35,500 units @ $ 14.40 each Nov. The company uses a periodic inventory system. On December 31, 2020, a physical count disclosed that 19.500 units of Product X remained in inventory. Required: 1. Calculate the number and total cost of the units available for sale during 2020. 151,000 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: a. FIFO Total cost of the units for sale Cost of units sold b. Weighted average cost basis. (Round the "Average cost per unlt" answer to 2 decimal places.) Total cost of the units for sale Cost of units sold
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