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Express Distribution markets CDs of the performing artist fishe. At the beginning of October, Express had in beginning inventory 2, 000 of fishe's CDs with

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Express Distribution markets CDs of the performing artist fishe. At the beginning of October, Express had in beginning inventory 2, 000 of fishe's CDs with a unit cost of $7. During October, Express made the following purchases of fishe's CDs. During October, 10, 900 units were sold. Express uses a periodic inventory system. Determine cost of goods available for sale. Calculate cost per unit. (Round answer to 2 decimal places, e.g. 2.25.) Determine the ending inventory and 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. Use weighted average unit cost rounded to 2 decimal places for computations.) Which cost flow method results in the highest inventory amount for the balance sheet and the highest cost of goods sold for the income statement

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