P6-6A

and ending ive FIFO, LJFO, and with analysis (LO 5) P6-6A Glee Distribution markets CDs of the performing artist Unique. At the beginning of Glee had in beginning inventory 2,000 of Uniques CDs with a unit cost of $7. mine Oct. 19 3,000 @$10 Oct. 25 4,000@ $11 Oxtober Glee made the following purchases of Unique's CDs. Oct. 3 2,500 s8 Oct.9 3,500 39 During October 10,900 units were sold. Glee uses a periodic inventory system Instructions (a) Determine the cost of goods available for sale (b) Determine (1) the ending inventory and (2) the cost of goods sold under each of the tz) Cost of good assumed cost flow methods (FIFO, LIFO, and average cost). (e) Which cost flow method results in (1) the highest inventory amount for the balance Average st sheet and (2) the highest cost of goods sold for the income statement