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Viper Company began year 2020 with 29,000 units of product in its January 1 inventory costing $16.80 each. It made successive purchases of its product
Viper Company began year 2020 with 29,000 units of product in its January 1 inventory costing $16.80 each. It 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 53,000 units of its product remain in inventory.
Odprawo its M DOV NW 10 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. Required 1 Required 2 Compute the number and total cost of the units available for sale during in year 2020. Total units available for sale units Total cost of units available for sale Reus Required 2 > 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. Required 1 Required 2 Compute the amounts assigned to 2020 ending inventory and the cost of goods sold using (a) FIFO and (b) weighted average cost. (Do not round intermediate calculations. Round the final answers to nearest whole dollars.) (a) FIFO Periodic Weighted Average Cost Periodic Total cost of units available for sale Less ending inventory Cost of units sold $ 0 $ 0 Step by Step Solution
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