Problem 6-2A Ivanhoe Company markets CDs of numerous performing artists. At the beginning of March, Ivanhoe Company had in beginning inventory 2,480 CDs with a unit cost of $7. During March, Ivanhoe Company made the following purchases of CDs March 52,140 $8March 21 4,790 $10 March 13 3,470 9March 26 2,030 $11 During March 11,470 units were sold. Ivanhoe Company uses a periodic inventory system. (a) Determine the cost of goods available for sale. The cost of goods available for sale (b) Calculate Average Cost. (Round answer to 3 decimal places, e.g. 5.125.) Average Costs s SHOW LIST OF ACCOUNTS Determine (1) the ending inventory and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to o decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory$ The cost of goods sold s SHOW LIST OF ACCOUNTS 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? produces the highest inventory amount. produces the highest cost of goods sold