View Policies Current Attempt in Progress Sarasota Corp,markets CDs of numerous performing artists. At the beginning of March Sarasota Corp, had in beginning inventory 2.290 CDs with a unit cost of $6. During March Sarasota Corp. made the following purchases of CDs. March 5 March 13 Support 2.120 @ $7 3,330 $8 March 21 4850 @ $9 March 26 1.970 @ $10 urces During March 11.210 units were sold. Sarasota Corp. uses a periodic inventory system urse Part 1 (a) Determine the cost of goods available for sale The cost of goods available for sale $ anner mission (b) Calculate Average Cost. (Round answer to 3 decimal places.es. 5.125) Average Cost $ Assistance Used List of Accounts List of Accounts Accounts Payable Accounts Receivable Accumulated Depreciation-Equipment Cash Common Stock Cost of Goods Sold Depreciation Expense Equipment Income Tax Expense Income Taxes Payable Inventory No Entry Retained Earnings Salaries and Wages Expense e to search Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Sales Returns and Allowances Sales Revenue Part 2 the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO and average-cost) Determine Random the ending inventory and to decin 125 FIFO LIFO AVERAGE-COST s The ending inventory The cost of goods sold List of Accounts Attempts of Sused Submit Answer Part 3 Which cost flow method results in (1) the highest inventory amount for the balance sheet and (2) the highest cost of goods sold for the income statement produces the highest inventory amount. . produces the highest cost of goods sold List of Accounts