Question
Problem 6-2A (Part Level Submission) Dunbar Distribution markets CDs of numerous performing artists. At the beginning of March, Dunbar had in beginning inventory 3,283 CDs
Problem 6-2A (Part Level Submission) Dunbar Distribution markets CDs of numerous performing artists. At the beginning of March, Dunbar had in beginning inventory 3,283 CDs with a unit cost of $9. During March, Dunbar made the following purchases of CDs. March 5 2,626 @ $11 March 21 6,565 @ $13 March 13 4,596 @ $12 March 26 2,626 @ $14 During March 15,756 units were sold. Dunbar uses a periodic inventory system. 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. 125.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started