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I need only question c Question 4 of 7 > View Policies Current Attempt in Progress Concord Corporation Inc. had a beginning inventory of 100
I need only question c Question 4 of 7 > View Policies Current Attempt in Progress Concord Corporation Inc. had a beginning inventory of 100 units of Product RST at a cost of $6 per unit. During the year purchases were: at Feb. 20 May 5 585 units 495 units $7 $8 Aug 12 at 405 units 100 units at Dec 8 $9 $10 at Concord Corporation uses a periodic inventory system. Sales totaled 1.570 units. (a) Your answer has been saved. See score details after the due date Determine the cost of goods available for sale The cost of goods available for sale $ 13,300 Attempts: 1 of 1 used Question 4 of 7 .../1 (61) Your answer has been saved. See score details after the due date. Calculate average cost per unit. (Round answer to 3 decimal places, eg. 2.237.) Average cost per unit $ 7.89 Attempts: 1 of 1 used (62) Your answer has been saved. See score details after the due date Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). Prove the accuracy of the cost of goods sold under the FIFO and LIFO methods. (Round per unit cost to 3 decimal places, eg, 15.647 and final answers to decimal places, es. 5.125.) FIFO LIFO AVERAGE-COST $ 150 $ 705 $ 908 The ending inventory The cost of goods sold $ 12,550 $ 12.595 $ 12.392 Attempts: 1 of 1 used (c) Which cost flow method results in the lowest inventory amount for the balance sheet? The lowest cost of goods sold for the income statement? (1) results in the lowest inventory amount, $ results in the lowest cost of goods sold, $ (2) FIFO LIFO Average-cost Save force Attempts: 0 of 1 used Submit
I need only question c
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