Crane Distribution markets CDs of numerous performing artists. At the beginning of March, Crane had in beginning inventory 2,800 CDs with a unit cost of $7.00. During March, Crane made the following purchases of CDs. March 5 March 13 2,200 @ $8.00 3,800 @ $9.00 March 21 March 26 5,000 @ 2,200 $10.00 $11.00 During March 11,500 units were sold. Crane uses a periodic inventory system. Determine the cost of goods available for sale. Cost of goods available for sale $ Calculate weighted-average cost per unit. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average cost per unit 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. 125.) Ending inventory Cost of goods sold $ $ FIFO LIFO $ $ AVERAGE-COST 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) (2) produces the highest inventory amount. produces the highest cost of goods sold.