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View Policies Current Attempt in Progress Sheridan Distribution markets CDs of numerous performing artists. At the beginning of March, Sheridan had in beginning inventory 2,500
View Policies Current Attempt in Progress Sheridan Distribution markets CDs of numerous performing artists. At the beginning of March, Sheridan had in beginning inventory 2,500 CDs with a unit cost of $8.00. During March, Sheridan made the following purchases of CDs. During March 11,600 units were sold. Sheridan uses a periodic inventory system. (a) Determine the cost of goods available for sale. Cost of goods available for sale $ Calculate weighted-average cost per unit. (Round answer to 3 decimal places, e.g. 5.125.) 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 0 decimal places, e.g. 125.)
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