Problem 6-3 Concord Distribution markets CDs of numerous performing artists. At the beginning of March, Concord had in beginning inventory 2,390 CDs with a unit cost of $7. During March, Concord made the following purchases of CDs. 2,030 $8 $9 March 5 March 21 5,060 $10 $11 March 13 3,260 March 26 1,800 During March 11,470 units were sold. Concord uses a periodic inventory system. Determine the cost of goods available for sale The cost of goods available for sale SHOW LIST OF ACCOUNTS LINK TO TEX VIDEO SIMILAR PROBLEM 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). (For calculation purposes, round average cost to 3 decimal places, e.g. 5.275. Round answers to 0 decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventorys The cost of goods sold 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. Click if you would like to Show Work for this question: Open Show Work