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Question (2): 15 Points Glanville Distribution markets CDs of the performing artist Harrilyn Clooney. At the beginning of March, Glanville had in beginning inventory 1,500
Question (2): 15 Points Glanville Distribution markets CDs of the performing artist Harrilyn Clooney. At the beginning of March, Glanville had in beginning inventory 1,500 CDs with a unit cost of 57. During March Granville made the following purchases of the Clooney's CDs. March 5 March 13 March 21 March 26 3,000 @$8 5,500 @ 9 4,000 @ 10 2,000 @ 11 During March 12,500 units were sold at $13 each. Instructions: 1) Determine the Ending Inventory and the Cost of Goods Sold using FIFO and Weighted Average methods. 2) Calculate the gross profit under the two methods
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