Lily Company had100units in beginning inventory at a total cost of $10,000. The company purchased200units at a total cost of $26,000. At the end of the year, Lily had90units in ending inventory.

(A):

Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost.(Round average-cost per unit and final answers to 0 decimal places, e.g. 1,250.)

FIFO. LIFO.

The cost of the ending inventory. $ $

The cost of goods sold $. $

QUESTION # 2

Bramble Distribution markets CDs of the performing artist Unique. At the beginning of October, Bramble had in beginning inventory2,000of Unique's CDs with a unit cost of $5.During October, Bramble made the following purchases of Unique's CDs.

Oct. 3. 2,500 @. $6. Oct. 19. 3,000 @. $8

Oct. 9. 3,500 @ $7. Oct. 25. 4,000 @ $9

Determine the cost of goods available for sale.

Cost of goods available for sale $