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Crane Distribution markets CDs of the performing artist Unique. At the beginning of October, Crane had in beginning inventory 2,000 of Unique's CDs with
Crane Distribution markets CDs of the performing artist Unique. At the beginning of October, Crane had in beginning inventory 2,000 of Unique's CDs with a unit cost of $5. During October, Crane made the following purchases of Unique's CDs. Oct. 3 2,500 @ $6 Oct. 19 3,000 @ $8 Oct. 9 3,500 @ $7 Oct. 25 4,000 @ $9 During October, 10,900 units were sold. Crane uses a periodic inventory system. (a) (b1) (b2) Your Answer Correct Answer Your answer is partially 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). (Round answers to O decimal places, e.g. 1,250.) The ending inventory The cost of goods sold $ $ SA FIFO 69 $ LIFO $ AVERAGE-COST SA $ 79,570
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