B2

Current Attempt in Progress Martinez Distribution markets CDs of numerous performing artists. At the beginning of March, Martinez had in beginning inventory 3,100 CDs with a unit cost of $7. During March, Martinez made the following purchases of CDs. During March 17,000 units were sold. Martinez uses a periodic inventory 5y stem. (a) Determine the cost of goods available for sale. Cost of goods available for sale $ eTextbook and Media Attempts: 2 of 5 used (b1) Your answer is correct. Calculate weighted-average cost per unit. (Round answer to 3 decimal places, eg. 2.257.) Weighted-average cost per unit $ eTextbook and Media Attempts: 2 of 5 used (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). Prove the accuracy of the cost of goods sold under the FIFO and LIFO methods. (Round answers to O decimal places, eg. 1,250. Use weighted-average unit cost rounded to 3 decimal places for computations.)