Dyna Distribution markets CDs of the performing artist King James. At the beginning of March, Dyna had in beginning inventory 4,230 King James CDs with a unit cost of $2 During March, Dyna made the following purchases of King James CDs.

March 5	9,870 @ $8
March 13	11,280 @ $9
March 21	5,640 @ $13
March 26	5,640 @ $14

During March, 28,200 units were sold. Dyna uses a periodic inventory system.

Determine the cost of goods available for sale, calculate average cost per unit (Round answer to 4 decimal places, e.g. $2.2520.), 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. $2,120.)

	FIFO	LIFO	AVERAGE-COST
The ending inventory
The cost of goods sold

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 goos sold, $________