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Mullins Distribution markets CDs of numerous performing artists. At the beginning of March, Mullins had in beginning inventory 2,500 CDs with a unit cost of
Mullins Distribution markets CDs of numerous performing artists. At the beginning of March, Mullins had in beginning inventory 2,500 CDs with a unit cost of $7. During March, Mullins made the following purchases of CDs. March 5 March 13 ====== 2,000 3,500 @ @ $8 $9 March 21 March 26 5,000 2,000 @ @ $10 $11 During March 12,000 units were sold. Mullins uses a periodic inventory system. Determine the cost of goods available for sale. The cost of goods available for sale LINK TO TEXT VIDEO: SIMILAR PROBLEM 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 to 3 decimal places, e.g. 5.275. Round answers to O FIFO LIFO AVERAGE-COST The ending inventory The cost of goods sold
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