Problem 6-2A (Part Level Submission)

Glee Distribution markets CDs of the performing artist Unique. At the beginning of October, Glee had in beginning inventory 2,160 of Uniques CDs with a unit cost of $7. During October, Glee made the following purchases of Uniques CDs.

Oct. 3		2,700	@	$8		Oct. 19		3,240	@	$10
Oct. 9		3,780	@	$9		Oct. 25		4,320	@	$11

During October, 11,772 units were sold. Glee uses a periodic inventory system.

I determined Cost of goods available for sale is $150660

and cost per unit is $9.3

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.)

Can you please show the steps you take to find FIFO LIFO AND WAC on these kinds of problems? I am a little confused on how to calculate.

(b2) X Your answer is incorrect. 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 o decimal places, e.g. 1,250) FIFO IFO AVERAGE-COST 150660 The ending inventory 50220 The cost of goods sold 10002400 LINK TO TEXT