Suppose Synergy Corporation€™s inventory records for a particular computer chip indicate the following at December 31:

The physical count of inventory at December 31 indicates that seven units of inventory are on hand.

Requirements
Compute ending inventory and cost of goods sold, using each of the following methods:
1. Specific unit cost, assuming two $59 units and five $69 units are on hand
2. Average cost (round average unit cost to the nearest cent)
3. First-in, first-out
4. Last-in,first-out

Dec 1 Beginning inventory..6 units @ $59 Purchase.. Purchase.. Purchase $354 15 26 10 units @ $69 5 units @ S79 690 395