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Vaughn Distribution markets CDs of the performing artist Unique. At the beginning of October, Vaughn had in beginning inventory 2,000 of Unique's CDs with a unit cost of $5. During October, Vaughn made the following purchases of Unique's CDs. 3,000 @ $8 Oct. 3 2,500 @ $6 Oct. 9 3,500 @ $7 Oct. 19 Oct. 25 4,000 @ $9 During October 10,850 units were sold. Vaughn uses a periodic inventory system. (a) Determine the cost of goods available for sale. Cost of goods available for sale $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (61) Calculate cost per unit. (Round answer to 2 decimal places, e.g. 2.25.) Cost per unit $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer ( b2) Determine (1) the ending inventory and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to 0 decimal places, e.g. 1,250.) FIFO LIFO AVERAGE-COST $ $ The ending inventory The cost of goods sold $ $ $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (c) Which cost flow method results in (1) the highest inventory amount for the balance sheet and (2) the highest cost of goods sold for the income statement? (1) produces the highest inventory amount, $ (2) produces the highest cost of goods sold, $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer > - / 50 III Question 2 of 2 View Policies Current Attempt in Progress Sheridan Company had a beginning inventory on January 1 of 160 units of Product 4-18-15 at a cost of $20 per unit. During the year, purchases were as follows. at $24 $33 Mar. 15 400 units July 20 220 units at $28 Sept. 4 300 units at Dec. 2 100 units at $30 Sheridan Company uses a periodic Inventory system. Sales totaled 975 units. (a) Determine the cost of goods available for sale. The cost of goods available for sale $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (61) Calculate average cost per unit. (Round answer to 3 decimal places, e... 1.250.) Average cost per unit $ (62) Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to 0 decimal places, e.g. 1,250.) FIFO LIFO AVERAGE-COST $ The ending inventory The cost of goods sold $ $ $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (c) Which cost flow method results in the highest inventory amount for the balance sheet? The highest cost of goods sold for the income statement? results in the highest inventory amount, $ produces the highest cost of goods sold, $