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Pina Colada Distribution markets CDs of numerous performing artists. At the beginning of March, Pina Colada had in beginning inventory 3,400CDs with a unit cost
Pina Colada Distribution markets CDs of numerous performing artists. At the beginning of March, Pina Colada had in beginning inventory 3,400CDs with a unit cost of \$6.During March. Pina Colada made the following purchases of CDs. During March19,000units were sold. Pina Colada uses a periodic inventory system. (a) Determine the cost of goods available for sale. Cost of goods available for sale $ eTextbook and Media Attempts: 0 of 3 used (b1) Calculate weighted-average cost per unit. (Round answer to 3 decimal places, e.g. 2.257.) $ 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 O decimal places, eg. 1,250. Use weighted-average unit cost rounded to 3 decimal places for computations.) eTextbook and Media Attempts: 0 of 3 used 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? (1) produces the highest inventory amount for the balance sheet, $ (2) produces the highest cost of goods sold on the income statement, $
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