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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. (a) Your Answer Correct Answer (Used) Determine the cost of goods available for sale. Cost of goods available for sale $ 151,650 Calculate weighted-average cost per unit. (Round answer to 3 decimal places, eg. 5.125.) Weighted-average cost per unit $ 10.110 (b) Determine (1) the ending inventory and (2) the cost of goods sold underach of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to O decimal places, eg. 125.) Ending inventory FIFO LIFO AVERAGE-COST
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