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Crane Company markets CDs of numerous performing artists. At the beginning of March, Crane had in beginning inventory 2,400 CDs with a unit cost of
Crane Company markets CDs of numerous performing artists. At the beginning of March, Crane had in beginning inventory 2,400 CDs with a unit cost of $6. During March, Crane made the following purchases of CDs. March 5 March 13 2,100 3,600 $7 March 21 4,800 $9 $8 March 26 2,100 $10 During March 11,500 units were sold. Crane uses a periodic inventory system. (a) Your answer is correct. Determine the cost of goods available for sale. The cost of goods available for sale $ 122100 Calculate Average Cost. (Round answer to 3 decimal places, e.g. 5.125.) Average Cost 8.14 eTextbook and Media List of Accounts Attempts: 1 of 15 used (b) * Your answer is incorrect. 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 O decimal places, e.g. 125.) The ending inventory The cost of goods sold eTextbook and Media List of Accounts Save for Later FIFO 1100 LIFO +A AVERAGE-COST Attempts: 1 of 15 used Submit
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