Show Attempt History Current Attempt in Progress Skyson Bed and Bath had a beginning inventory of 380 units of Product Kimbo at a cost of 6 per unit. During the year purchases were Feb 20 210 7 580 E14 Aug 12 Dec 8 May 5 510 EB 320 E 15 Skyiong Company uses a periodic inventory system. Sales totaled 1,560 units (a) Your answer is correct Determine the cost of goods available for sale The cost of goods available for sale 250 Attempts: 1 of used ch: Homework 13.75 / 15 Question 1 of 6 (b) Your answer is correct Determine (1) the ending inventory and (2) the cost of goods sold under the two assumed cost flow methods (FIFO and average cost. (Round average unit cost to 2 decimal places, s. 25. 16 and final answers to decimal places, s. 2.120. FIFO AVERAGE-COST 45 The ending inventory E 12.30 The cost of goods sold Attempts: 3 of 3 used (c) ch: Homework 13.75 / 15 Question 1 of 6 (b) Your answer is correct Determine (1) the ending inventory and (2) the cost of goods sold under the two assumed cost flow methods (FIFO and average cost. (Round average unit cost to 2 decimal places, s. 25. 16 and final answers to decimal places, s. 2.120. FIFO AVERAGE-COST 45 The ending inventory E 12.30 The cost of goods sold Attempts: 3 of 3 used (c) h 6: Homework 13.75 / 15 > Question 1 of 6 TH The ending inventory E 6480 E 4565 The cost of goods sold 14270 E 16185 Attempts: 3 of 3 used (c) Your answer is partially correct. Which cost flow method results in (1) the lower inventory amount for the statement of financial pository and are rost of goods sold for the income statement? Average cost results in the lower inventory amount for the statement of financial position, f. FIFO results in the lower cost of goods sold, 14270 Save for Later Attempts... read