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need all of b2 Martinez Distribution markets CDs of numerous performing artists. At the beginning of March, Martinez had in beginning inventory 3,100 CDs with
need all of b2
Martinez Distribution markets CDs of numerous performing artists. At the beginning of March, Martinez had in beginning inventory 3,100 CDs with a unit cost of $ 7. During March, Martinez made the following purchases of CDs. March 5 3.875 @ $ 8 March 21 6,650 $ 10 March 13 5.425 @ $ 9 March 26 4,200 $ 11 During March 17,000 units were sold. Martinez uses a periodic inventory system. ( b2) ( Your answer is partially correct. 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, eg. 1,250. Use weighted-average unit cost rounded to 3 decimal places for computations.) FIFO LIFO AVERAGE-COST The ending inventory $ 112700 $ 22100 $ 29024 The cost of goods sold $ 168025 $ 192525 $ 156638 e Textbook and MediaStep by Step Solution
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