Question
Sunland Distribution markets CDs of the performing artist Unique. At the beginning of October, Sunland had in beginning inventory 2,000 of Unique's CDs with a
Sunland Distribution markets CDs of the performing artist Unique. At the beginning of October, Sunland had in beginning inventory 2,000 of Unique's CDs with a unit cost of $5. During October, Sunland made the following purchases of Unique's CDs. Oct. 3 2,500 @ $6 Oct. 9 3,500 @ $7 Oct. 19 Oct. 25 3,000 @ $8 4,000 @ $9 During October, 10,750 units were sold. Sunland uses a periodic inventory system. (b2) Your answer is partially correct. 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.) FIFO The ending inventory $ 60000 The cost of goods sold $ eTextbook and Media Save for Later 49500 +A +A LIFO 25000 84500 A AVERAGE-COST 32850 78475 Assistance Used Attempts: 1 of 3 used Submit
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