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6 of 6 < > -/15 E ii Wildhorse Distribution markets CDs of numerous performing artists. At the beginning of March. Wildhorse had in beginning
6 of 6 < > -/15 E ii Wildhorse Distribution markets CDs of numerous performing artists. At the beginning of March. Wildhorse had in beginning inventory 2.800 CDs with a unit cost of $8.00. During March, Wildhorse made the following purchases of CDs. March 5 2,000 $9.00 March 21 5,200 $11.00 March 13 4,000 $10.00 March 26 2,000 $12.00 During March 11,900 units were sold. Wildhorse uses a periodic inventory system. (a) 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, eg. 5.125) Weighted average cost per unit (b) 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 O decimal places, eg. 125.) FIFO Ending inventory $ $ Cost of goods sold $ $ (c) eTextbook and Media Save for Later LIFO AVERAGE-COST Attempts: 0 of 15 used Subinit Answer Which cost flow method results in (1) the highest inventory amount for the balance sheet and (2) ibn binimet cock eTextbook and Media Save for Later Attempts: 0 of 15 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) (2) eTextbook and Media Save for Later produces the highest inventory amount. produces the highest cost of goods sold. Attempts: 0 of 15 used Submit
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