Problem 6-2A Express Distribution markets CDs of the performing artist Fishe. At the beginning of October, Express had in beginning inventory 3,900 of Fishe's CDs with a unit cost of $7. During October, Express made the following purchases of Fishe's CDs. Oct. 3 4,875 @ $8 Oct. 9 6,825 @ $9 Oct. 195,850 @ $10 Oct. 25 7,800 @$11 During October, 21,255 units were sold. Express uses a periodic inventory system. Your answer is correct. Determine the cost of goods available for sale. Cost of goods available for sale I 272025 SHOW SOLUTION SHOW ANSWER LINK TO TEXT VIDEO: SIMILAR PROBLEM Your answer is correct. Calculate weighted average cost per unit. (Round answer to 2 decimal places, e.g. 2.25.) Weighted average cost per unit 9.3 Your answer is partially correct. Try again. 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. 1,250. Use weighted-average unit cost rounded to 2 decimal places for computations.) FIFO LIFO AVERAGE-COST The ending inventory 95750 32195 74353 The cost of goods sold 264030 239830 197671 LINK TO TEXT VIDEO: SIMILAR PROBLEM Your answer is partially correct. Try again. 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) FIFO 95750 I produces the highest inventory amount, $ produces th LIFO 239830 _ produces the highest cost of goods sold, $ LINK TO TEXT VIDEO: SIMILAR