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Problem 6-02A (Part Level Submission) Novak Corp. markets CDs of numerous performing artists. At the beginning of March, Novak had in beginning inventory 2,800 CDs
Problem 6-02A (Part Level Submission) Novak Corp. markets CDs of numerous performing artists. At the beginning of March, Novak had in beginning inventory 2,800 CDs with a unit cost of $8. During March, Novak made the following purchases of CDs. March 5 1,900 $9 March 21 5,200 $11 March 13 3,200 $10 March 26 1.900 $12 During March 11,600 units were sold. Novak uses a periodic inventory system. (a) Vour answer is correct. Determine the cost of goods available for sale. The cost of goods available for sale 151500 Calculate Average Cost. (Round answer to 3 decimal places, e.q. 5.125.) Average Cost 10.1 click if you would like to Show Work for this question: Open Show Work Attempts: 2 of 2 used (b) 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 0 decimal places, e.g. 125.) AVERAGE-COST FIFO LIFO The ending inventory The cost of goods sold t
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