Marigold Corp. markets CDs of numerous performing artists. At the beginning of March, Marigold had in beginning inventory 2,700 CDs with a unit cost of $7. During March, Marigold made the following purchases of CDs. March 5 1.900 @ $8 March 21 5,000 $10 March 13 3,500 $9 March 26 1.900 @ $11 During March 12,000 units were sold. Marigold uses a periodic inventory system. Determine the cost of goods available for sale. The cost of goods available for sale 136,500 Calculate Average Cost. (Round answer to 3 decimal places, e.g. 5.125.) Average Cost 9.100 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 decimal places, eg. 125.) FIFO LIFO AVERAGE-COST The ending inventory $ $ $ The cost of goods sold $ $ List of Accounts 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 goods sold