CALERA PENT VERSION BACK NEXT Problem 6-02A a, b1-62, (Video) Concord Distribution markets CDs of the performing artist Fishe. At the beginning of October, Concorded in beginning inwentory 2.500 of he's CDs with a unit of sy. During Odobe Concord made the following purchases of Fishe's CDs. Od. 3 3,125 Oct. 9 4,375 $9 Oct. 19 3,750 $10 Oct. 25 5,000 O $11 During October, 13,625 units were sold. Concord uses a periodic inventory system. Determine the cost of goods available for sale Cost of goods available for sale 156875 Calculate weighted average cost per unit. (Round answer to 2 decimal places, ..2.25 Weighted average cost per unit 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 poods sold under the FIFO and LIFO methods. (Round answers to decimal places, c. 1,250. Use weighted average ort cost rounded to 2 decimal places for computations.) FIFO LIFO AVERAGE COST The ending inventory 3 $ $ The cost of goods sold $ $ $ RAN NET Calculate weighted average cost per una. (Mound answer to decimal places, c. 2.25.) Weighted average cost per unit 9.65 3 Determine (1) the ending inventory and (2) the cost of goods sold under each of the assumed cost flow methods (riro, uro, and average-cout). Prove the accuracy of the cost of goods sold under the FIFO and LIFO methods. (Round answers to o decimal places, s. 1,250. Use weighted average unit cost rounded to decimal places for computations.) FIFO LIFO AVERAGE-COST The ending inventory $ $ $ The cost of goods sold $ $ $ 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? results in the highest inventory amounts (2) results in the highest cost of goods sold