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Sandhill Distribution markets CDs of numerous performing artists. At the beginning of March, Sandhill had in beginning inventory 2,500 CDs with a unit cost
Sandhill Distribution markets CDs of numerous performing artists. At the beginning of March, Sandhill had in beginning inventory 2,500 CDs with a unit cost of $8.00. During March, Sandhill made the following purchases of CDs. March 5 1,850 $9.00 March 21 4,800 $11.00 March 13 4,000 $10.00 March 26 1,850 @ $12.00 During March 11,900 units were sold. Sandhill uses a periodic inventory system. 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. 125.) Ending inventory Cost of goods sold GA CA $ FIFO +A +A $ LIFO CA AVERAGE-COST CA $
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