Current Attempt in Progress

Sunland Distribution markets CDs of the performing artist Unique. At the beginning of October, Sunland had in beginning inventory 2,000 of Uniques CDs with a unit cost of $5. During October, Sunland made the following purchases of Uniques CDs.

Oct. 3		2,500	@	$6		Oct. 19		3,000	@	$8
Oct. 9		3,500	@	$7		Oct. 25		4,000	@	$9

During October, 10,750 units were sold. Sunland uses a periodic inventory system.

(b1)

Calculate cost per unit. (Round answer to 2 decimal places, e.g. 2.25.)

Cost per unit

$enter the cost per unit in dollars rounded to 2 decimal places

Submit Answer

(b2)

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 0 decimal places, e.g. 1,250.)

		FIFO		LIFO		AVERAGE-COST
The ending inventory		$enter a dollar amount rounded to 0 decimal places		$enter a dollar amount rounded to 0 decimal places		$enter a dollar amount rounded to 0 decimal places
The cost of goods sold		$enter a dollar amount rounded to 0 decimal places		$enter a dollar amount rounded to 0 decimal places		$enter a dollar amount rounded to 0 decimal places