P6-2A Determine cost of goods sold and ending inventory using FIFO, LIFO, and average-cost Mullins Distribution markets CDs of numerous performing artists. At the beginning of March, Mu beginning inventory 2,500 CDs with a unit cost of $7. During March, Mullins made the following March 5 2,000 @ $8 March 21 5,000 @ $10 March 13 3,500 @ $9 March 26 2,000 @ $11 During March 12,000 units were sold. Mullins uses a periodic inventory system. instructions (a) Determine the cost of goods available of sale. (b) Determine (1) the ending inventory and (2) the cost of goods sold under each of the as: flow methods (FIFO, LIFO, and average-cost). Prove the accuracy of the cost of goods FIFO and LIFO methods. (Note: For average-cost, round cost per unit to three decimal (c) Which cost flow methods results in (1) the highest inventory amount for the balance she the highest cost of goods sold for the income statement? NOTE: Enter a number in cells requesting a value; enter either a number or a formula in ( Enter a textual answer in the cells with "TEXT."