Grouper Distribution markets CDs of numerous performing artists. At the beginning of March, Grouper had in beginning inventory 2,320 CDs with a unit cost of $7. During March, Grouper made the following purchases of CDs.

March 5		2,140	@	$8		March 21		5,440	@	$10
March 13		3,560	@	$9		March 26		1,910	@	$11

During March, 11,480 units were sold. Grouper uses a periodic inventory system.

Why FIFO ending inventory and The cost of goods sold are wrong?

(b) 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). (For calculation purposes, round average cost per unit to 3 decimal places, eg. 5.275. Round answers to O decimal places, eg. 125.) FIFO LIFO AVERAGE-COST The ending inventory $ 38,830 $ 28.800 $ $ 35,636 The cost of goods sold $ 101.980 $ 112,010 $ 105,168