Problem 6-3 Flint Distribution markets CDs of numerous performing artists. At the beginning of March, Flint had in beginning inventory 2,460 CDs with a unit cost of $7. During March, Flint made the following purchases of CDs. March 5 March 13 1,890 @ $8 3,310 @ $9 March 21 March 26 4,940 2,050 @ $10 @ $11 During March 11,810 units were sold. Flint uses a periodic inventory system. Determine the cost of goods available for sale. The cost of goods available for sale $ 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.) AVERAGE-COST FIFO LIFO The ending inventory $ $ $ 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? A Division of John Wiley & Sons, Inc. Version 4 10:49 F 4) ENG 2021-02