间用(T)The periodic inventory records of Synergy Prosthetics indicate the following for the current year:DateTransactionNumber ofUnitsUnit CostTotal CostBeginningJan. 1Inventory20$22$440Mar. 4Purchase2521525Jun. 9Purchase3020600Nov. 11Purchase3018540Total105$2,105For the entire year, the company sells 81 units of inventory for $30 each. What is the cost of ending inventory under average cost method?a. $1,623.86b. $2,430c. $432Od. $481.14

Lets understand the basics.Ending inventory and cost of goods sold can be calculated using,(1)…

The periodic inventory records of Synergy Prosthetics indicate the following for Date Transaction Number of Units Unit Cost Total Cost Beginning Jan. 1 Inventory 20 20 $22 $440 Mar. 4 Purchase 25 25 21 525 Jun. 9 Purchase 30 20 20 600 Nov. 11 Purchase 30 18 540 Total 105 $2.105

The periodic inventory records of Synergy Prosthetics indicate the following for Date Transaction Number of Units Unit Cost Total Cost Beginning Jan. 1 Inventory 20 20 $22 $440 Mar. 4 Purchase 25 25 21 525 Jun. 9 Purchase 30 20 20 600 Nov. 11 Purchase 30 18 540 Total 105 $2.105

FINANCIAL ACCOUNTING

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ISBN:9781259964947

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Chapter1: Financial Statements And Business Decisions

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Question

间
用
(T)
The periodic inventory records of Synergy Prosthetics indicate the following for the current year:
Date
Transaction
Number of
Units
Unit Cost
Total Cost
Beginning
Jan. 1
Inventory
20
$22
$440
Mar. 4
Purchase
25
21
525
Jun. 9
Purchase
30
20
600
Nov. 11
Purchase
30
18
540
Total
105
$2,105
For the entire year, the company sells 81 units of inventory for $30 each. What is the cost of ending inventory under average cost method?
a. $1,623.86
b. $2,430
c. $432
Od. $481.14

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