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Blossom Distribution markets CDs of numerous performing artists. At the beginning of March, Blossom had in beginning inventory 2 , 8 0 0 CDs with
Blossom Distribution markets CDs of numerous performing artists. At the beginning of March, Blossom had in beginning inventory CDs with a unit cost of $ During March, Blossom made the following purchases of CDs
March
@ $
March
@ $
March
@ $
March
@ $
During March units were sold. Blossom uses a periodic inventory system.
a
b
Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods FIFO LIFO, and averagecostRound answers to decimal places, eg
LIFO
AVERAGECOST
Ending inventory
$
$ $
$ $
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