Question 2 Express Distribution markets CDs of the performing artist Fishe. At the beginning of October, Express had in beginning inventory 2,300 of Fishe's CDs with a unit cost of $6. During October, Express made the following purchases of Fishe's CDs. Oct. 3 2,875 @ $7 Oct. 9 4,025 @ $8 Oct. 19 Oct. 25 3,450 $9 4,600 @ $10 During October, 12,535 units were sold. Express uses a periodic inventory system. Determine the cost of goods available for sale. Cost of goods available for sales 143,175 LINK TO TEXT VIDEO: SIMILAR PROBLEM Calculate weighted average cost per unit. (Round answer to 2 decimal places, e.g. 2.25.) Weighted average cost per units 8.3 LINK TO TEXT 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). (Round answers to O decimal places, e.g. 1,250. Use weighted average unit cost rounded to 2 decimal places for computations.) FIFO LIFO AVERAGE-COST The ending inventory S The cost of goods sold s LINK TO TEXT VIDEOSIMILAR PROBLEM 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? (1) (2) produces the highest inventory amount, $ produces the highest cost of goods sold, $ LINK TO TEXT VIDEO: SIMILAR PROBLEM Question Attempts: 0 of 3 used