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Problem 6-3 Marigold Distribution markets CDs of numerous performing artists. At the beginning of March, Marigold had in beginning inventory 2,670 CDs with a
Problem 6-3 Marigold Distribution markets CDs of numerous performing artists. At the beginning of March, Marigold had in beginning inventory 2,670 CDs with a unit cost of $7. During March, Marigold made the following purchases of CDs. March 5 March 13 2,110 3,630 $8 $9 March 21 5,460 March 26 2,120 $10 $11 During March 12,050 units were sold. Marigold 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.) The ending inventory $ The cost of goods sold FIFO LIFO AVERAGE-COST
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