Problem 6 2A Dyna Distribution markets CDs of the performing artist King James At the beginning of March, Dyna had in beginning inventory2,640King James CDs with a unit cost of $2During March, Dyna made the following purchases of King James CDs March 5 6,160 $9 March 21 3,520 $13 March 13 7,040 $10 March 26 3,520 $14 During March,17,600units were sold Dyna uses a periodic inventory system Determine the cost of goods available for sale The cost of goods available for sale $ LINK TO TEXT LINK TO VIDEO Calculate average cost per unit (Round answer to 4 decimal places, e g $2 2520 ) Average cost per unit $ LINK TO TEXT LINK TO VIDEO 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 $2,120 ) FIFO LIFO AVERAGE COST The ending inventory $ $ $ The cost of goods sold $ $ $ LINK TO TEXT LINK TO VIDEO 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) FIFOLIFO produces the highest inventory amount, $ (2) FIFOLIFO produces the highest cost of goods sold, $ Problem 6 2A Dyna Distribution markets CDs of the performing artist King James At the beginning of March, Dyna had in beginning inventory 2,640 King James CDs with a unit cost of $2 During March, Dyna made the following purchases of King James CDs March 5 March 13 6,160 7,040 $9 $10 March 21 March 26 3,520 3,520 $13 $14 During March, 17,600 units were sold Dyna uses a periodic inventory system Determine the cost of goods available for sale $ The cost of goods available for sale LINK TO TEXT LINK TO VIDEO Calculate average cost per unit (Round answer to 4 decimal places, e g $2 2520 ) $ Average cost per unit LINK TO TEXT LINK TO VIDEO 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 $2,120 ) FIFO The ending inventory The cost of goods sold LINK TO TEXT LIFO AVERAGE COST $ $ $ $ $ $ LINK TO VIDEO 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) (2) produces the highest inventory amount, $ produces the highest cost of goods sold, $

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Problem 6-2A Dyna Distribution markets CDs of the performing artist King James. At the beginning of March, Dyna had in beginning inventory2,640King James CDs with

March 5	6,160	@	$9	March 21	3,520	@	$13
March 13	7,040	@	$10	March 26	3,520	@	$14

During March,17,600units were sold. Dyna uses a periodic inventory system.

Determine the cost of goods available for sale.

The cost of goods available for sale

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LINK TO VIDEO

Calculate average cost per unit.(Round answer to 4 decimal places, e.g. $2.2520.)

Average cost per unit

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LINK TO VIDEO

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. $2,120.)

FIFO	LIFO	AVERAGE-COST
The ending inventory	$	$	$
The cost of goods sold	$	$	$

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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)	FIFOLIFOproduces the highest inventory amount, $.
(2)	FIFOLIFOproduces the highest cost of goods sold, $.

Problem 6-2A Dyna Distribution markets CDs of the performing artist King James. At the beginning of March, Dyna had in beginning inventory 2,640 King James CDs with a unit cost of $2 During March, Dyna made the following purchases of King James CDs. March 5 March 13 6,160 7,040 @ @ $9 $10 March 21 March 26 3,520 3,520 @ @ $13 $14 During March, 17,600 units were sold. Dyna uses a periodic inventory system. Determine the cost of goods available for sale. $ The cost of goods available for sale LINK TO TEXT LINK TO VIDEO Calculate average cost per unit. (Round answer to 4 decimal places, e.g. $2.2520.) $ Average cost per unit LINK TO TEXT LINK TO VIDEO 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. $2,120.) FIFO The ending inventory The cost of goods sold LINK TO TEXT LIFO AVERAGE-COST $ $ $ $ $ $ LINK TO VIDEO 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) (2) produces the highest inventory amount, $ . produces the highest cost of goods sold, $