Question: Complete Problem 6-18A on page 455 and match the correct answer to the question Choose. Choose.. What are the total # of units available for

 Complete Problem 6-18A on page 455 and match the correct answer
to the question Choose. Choose.. What are the total # of units

Complete Problem 6-18A on page 455 and match the correct answer to the question Choose. Choose.. What are the total # of units available for sale? What is the total $ amount of the units available for sale? Under the FIFO method what is the $ amount of the units in the ending inventory? Under the FIFO method what is the $ of the COGS? Under the Weighted Average method what is the average cost per unit? $1,394,000 $1,191,500 $128,500 $10.85 $13.50 $202,500 Finish attempt 400.00 213 *Problem 6-18A Alternative cost flows-periodic LOS CHECK FIGURES: 2. Cost of goods sold; a. $1,191,500; b. $1,231,250 Synergy Company began 2020 with 19,000 units of Product X in its inventory that cost $7.50 per unit, and it made successive purchases of the product as follows: Mar. 7 May 25. Aug. 1 Nov. 10 26,000 units 31,000 units 21,500 units 31,000 units @ $ 9.00 each $11.00 each @ $12.00 each $13.50 each The company uses a periodic inventory system. On December 31, 2020, a physical count disclosed that 15,000 units of Product X remained in inventory. Required 1. Prepare a calculation showing the number and total cost of the units available for sale during 2020. 2. Prepare calculations showing the amounts that should be assigned to the 2020 ending inventory and to cost of goods sold, assuming: a. FIFO b. Weighted average cost basis (round the average cost per unit to two decimal places). ALTERNATE PROBLEMS rch

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!