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Problem 6-2A Bridgeport Corp. markets CDs of numerous performing artists. At the beginning of March, Bridgeport Corp. had in beginning inventory 2,310 CDs with a
Problem 6-2A Bridgeport Corp. markets CDs of numerous performing artists. At the beginning of March, Bridgeport Corp. had in beginning inventory 2,310 CDs with a unit cost of $6. During March, Bridgeport Corp. made the following purchases of CDs. March 5 0$7 March 21 5,360 $9 March 13 3,690$8March 26 2,010 $10 During March 11,440 units were sold. Bridgeport Corp. uses a periodic inventory system. (a) Determine the cost of goods available for sale. The cost of goods available for sales (b) Calculate Average Cost. (Round answer to 3 decimal places,e.g. 5.125. Average Cost 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.) FIFO LIFO AVERAGE-COST The ending inventory $ The cost of goods sold
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