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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

image text in transcribedimage text in transcribed 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 Unique's CDs with a unit cost of \$5. During October, Sunland made the following purchases of Unique's CDs. During October, 10,750 units were sold. Sunland uses a periodic inventory system. 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.) eTextbook and Media Attempts: 0 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, $ (2) produces the highest cost of goods sold, $

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