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Marigold Distribution markets CDs of the performing artist Fishe. At the beginning of October, Marigold had in beginning inventory 3,000 of Fishe's CDs with a

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Marigold Distribution markets CDs of the performing artist Fishe. At the beginning of October, Marigold had in beginning inventory 3,000 of Fishe's CDs with a unit cost of $7. During October, Marigold made the following purchases of Fishe's CDs. Oct. 3 3,750 @ $8 Oct. 19 4,500 @ $10 Oct. 9 5,250 @ $9 Oct. 25 6,000 @ $11 uring October, 16,350 units were sold. Marigold uses a periodicinventory system. X Your answer is incorrect. 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). Prove the accuracy of the cost of goods sold under the FIFO and LIFO methods. (Round answers to decimal places, e.g. 1,250. Use weighted-average unit cost rounded to 2 decimal places for computations.) FIFO LIFO AVERAGE-COST The ending inventory $ 39000 27900 96000 113250 $ $ The cost of goods sold $ 198750 181350

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