Question
Problem 6-2A Riverbed Corp markets CDs of numerous performing artists. At the beginning of March, Riverbed Corp had in beginning inventory 2,510 CDs with a
Problem 6-2A Riverbed Corp markets CDs of numerous performing artists. At the beginning of March, Riverbed Corp had in beginning inventory 2,510 CDs with a unit cost of $7. During March, Riverbed Corp made the following purchases of CDs. March 5 2,200 @ $8 March 21 4,890 @ $10 March 13 3,340 @ $9 March 26 1,800 @ $11 During March 11,860 units were sold. Riverbed Corp 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 Cost $ Show List of Accounts Link to Text 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.) FIFO LIFO AVERAGE-COST The ending inventory $ $ $ The cost of goods sold $ $ $
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