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Blossom Company markets CDs of numerous performing artists. At the beginning of March, Blossom had in beginning inventory 2,500 CDs with a unit cost of
Blossom Company markets CDs of numerous performing artists. At the beginning of March, Blossom had in beginning inventory 2,500 CDs with a unit cost of $8. During March, Blossom made the following purchases of CDs. March 5 2,200 @ $9 March 21 4,900 @ $11 March 13 3,200 @ $10 March 26 2,200 @ $12 During March 11,700 units were sold. Blossom uses a periodic inventory system. (a) Determine the cost of goods available for sale. The cost of goods available for sale $ Calculate Average Cost. (Round answer to 3 decimal places, e.g. 5.125.) Average Cost $ e Textbook and Media List of Accounts Save for Later Attempts: 0 of 15 used Submit Answer (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 0 decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory to $ $ The cost of goods sold $ $ $
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