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Synergy Company began 2023 with 17,500 units of Product X in its inventory that cost...

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Accounting

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Synergy Company began 2023 with 17,500 units of Product X in its inventory that cost $7.20 per unit, and it made successive purchases of the product as follows: The company uses a periodic inventory system. On December 31,2023 , a physical count disclosed that 13,500 units of Product X remained in inventory. Required: 1. Calculate the number and total cost of the units available for sale during 2023 . 2. Prepare calculations showing the amounts that should be assigned to the 2023 ending inventory and to cost of goods sold, assuming: b. Weighted average cost basis. (Round the "Average cost per unit" onswer to 2 decimal places.)

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