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Oriole Distribution markets CDs of numerous performing artists. At the beginning of March, Oriole had in beginning inventory 2,500 CDs with a unit cost of
Oriole Distribution markets CDs of numerous performing artists. At the beginning of March, Oriole had in beginning inventory 2,500 CDs with a unit cost of $6.00. During March, Oriole made the following purchases of CDs. March 5 2,200 $7.00 March 21 5,200 $9.00 March 13 3,900 @ $8.00 March 26 2,200 $10.00 During March 12,200 units were sold. Oriole uses a periodic inventory system. 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). (Round answers to O decimal places, e.g. 125.) Ending inventory $ Cost of goods sold $ FIFO $ $ LIFO 67 $ $ AVERAGE-COST
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