Answered step by step
Verified Expert Solution
Question
1 Approved Answer
6 a,b, c please show work thanks 6. Savage Distribution markets CDs of the performing artist Little Sister. At the beginning of October, Savage had
6 a,b, c please show work thanks
6. Savage Distribution markets CDs of the performing artist Little Sister. At the beginning of October, Savage had in beginning inventory 200 Sister's CDs with a unit cost of $5 each. During October, Savage made the following purchases of Sister's CDs. Oct. 3 Oct. 9 1,100 @ $6 3,000 @ $7 Oct. 19 Oct. 25 2,500 @ $8 800 @$9 During the month of October 6,400 units were sold. Savage uses a periodic inventory system. Instructions. You must show your work! (a) Determine the cost of goods sold and the cost of ending inventory using FIFO. Cost of Goods Sold Cost of Ending Inventory (b) Determine the cost of goods sold and the cost of ending inventory using LIFO. Cost of Goods Sold Cost of Ending Inventory (c) Determine the cost of goods sold and the cost of ending inventory using weighted average ron Dati (c) Determine the cost of goods sold and the cost of ending inventory using weighted average-cost. Round to two decimal places. Cost of Goods Sold Cost of Ending Inventory Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started