Novak Distribution markets CDs of the performing artist Fishe. At the beginning of October, Novak had in beginning inventory 3,300 of Fishes CDs with a unit cost of $7. During October, Novak made the following purchases of Fishes CDs.

Oct. 3		4,125	@	$8		Oct. 19		4,950	@	$10
Oct. 9		5,775	@	$9		Oct. 25		6,600	@	$11

During October, 17,985 units were sold. Novak uses a periodic inventory system.

X Your answer is incorrect Calculate weighted average cost per unit. (Round answer to 2 decimal places, e.g. 2.25.) $ Weighted average cost per unit 10.81 eTextbook and Media 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 0 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 $ $ The cost of goods sold Your answer is incorrect. 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? results in the highest inventory amount, $ (1) results in the highest cost of goods sold, $ (2) eTextbook and Media