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Viper Company began year 2020 with 23,500 units of product in its January 1 inventory costing $15.70 each. t made successive purchases of its product
Viper Company began year 2020 with 23,500 units of product in its January 1 inventory costing $15.70 each. t made successive purchases of its product in year 2020 as follows. The company uses a periodic inventory system. On December 31,2020 , a physical count reveals that 42,000 units of its product remain in inventory. Required: 1. Compute the number and total cost of the units available for sale during in year 2020. 2. Compute the amounts assigned to 2020 ending inventory and the cost of goods sold using (a) FIFO and (b) weighted average cost. Complete this question by entering your answers in the tabs below. Compute the number and total cost of the units available for sale during in year 2020
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