The periodic inventory records of Synergy Prosthetics indicate the following for

Question

The periodic inventory records of Synergy Prosthetics indicate the following for the month of October: EE (Click the icon to view the inventory records.) At October 31, Synergy counts five units of inventory on hand Compute ending merchandise inventory and cost of goods sold for Synergy using the weighted-average inventory costing method. Weighted-average Ending Merchandise Inventory Cost of Goods Sold Data Table Oct 1 Beginning merchandise inventory 8 units $ 45 each 10 units $54 each 13 units 55 each 15 units 61 each 8 Purchase 15 Purchase 26 Purchase 2 Print Done heck Answer

Explanation / Answer

Ending Inventory under weighted Average: $ 275

Cost of Goods sold under Weighted Average: $ 22500

Explanation is as follows:

STATEMENT SHOWING INVENTORY RECORD UNDER PERIODIC WEIGHTED AVERAGE METHOD RECIEPTS COST OF GOODS SOLD BALANCE DATE UNITS RATE AMOUNT $ UNITS RATE AMOUNT $ UNITS RATE AMOUNT $ 1-Oct 8 45 360 Purchasse 8-Oct 10 54 540 15-Oct 13 55 715 26-Oct 15 61 915 TOTAL 46 55 2530 41 55 2255 5 55 275

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