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Concord Distribution markets CDs of numerous performing artists. At the beginning of March, Concord had in beginning inventory 4,500 CDs with a unit cost of
Concord Distribution markets CDs of numerous performing artists. At the beginning of March, Concord had in beginning inventory 4,500 CDs with a unit cost of \$6. During March, Concord made the following purchases of CDs. During March 25,000 units were sold. Concord uses a periodic inventory system. (a) Determine the cost of goods available for sale. Cost of goods available for tie $ Calculate weighted-average cost per unit. (Round answer to 3 decimal places, es. 2.257) Weighted-average cost per unit eTextbook and Media Attempts: 1 of 3 used (b2) Your answer is correct. 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 0 decimal ploces, es. 1,250. Use welghted-overase unit cost rounded to 3 decimal ploces for computations) 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 0 decimal ploces, es. 1.250. Use welghted-average unit cost rounded to 3 decimal ploces for computations) eTextbook and Media Attempts: 1 of 3 used (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) produces the highest inventory amount for the balance sheet, \$ (2) produces the highest cost of goods sold on the income statement, $
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