Problem 6-2A

Express Distribution markets CDs of the performing artist Fishe. At the beginning of October, Express had in beginning inventory 4,000 of Fishes CDs with a unit cost of $7. During October, Express made the following purchases of Fishes CDs. Oct. 3 5,000 @ $8 Oct. 19 6,000 @ $10 Oct. 9 7,000 @ $9 Oct. 25 8,000 @ $11 During October, 21,800 units were sold. Express uses a periodic inventory system.

a) Determine the cost of goods available for sale. Cost of goods available for sale

b) Calculate weighted average cost per unit. (Round answer to 2 decimal places, e.g. 2.25.) Weighted average cost per unit

c) 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).

Please show work!