Novak Distribution markets CDs of the performing artist Fishe. At the beginning of October, Novak had in beginning inventory 3.200 of Fishes CDs with a unit cost of $7. During October Novak made the following purchases of Fishes CDs Oct. 34,125 50 Oct, 194,950 $10 Oct. 9 5.775 $9 a 25 6,600 O $11 During October 17,90 units were sold. Novak uses a periodic Inventory system Determine the cost of goods available for sale Coot of goods stable for sale KINETOTEKE VITORLAR PROBLEM Calculate weighted average cost per unit (Hound answer to decimal places, 225) Weighted average cost per un IR VON Calculate weighted average cost per unit. (Round answer to 2 decimal places, e.g. 2.25.) Weighted average cost per unit LINK TO TEXI VIDEO SIMILAR PROBLEM Determine (1) the ending inventory and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, UFO, and average cost). Prove the accuracy of the cost of goods the FIFO and LIFO methods. (Round answers to o 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 $ LINK TO TEXT VIDEO: SIMILAR PROBLEM 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? (5) results in the highest inventory amount (2) results in the highest cost of goods sold