Waterway Industries markets CDs of numerous performing artists. At the beginning of March, Waterway had in beginning inventory 2.500 CDs with a unit cost of $6. During March Waterway made the following purchases of CDs. March 5 2.200 @ $7 @ March 21 March 26 5,200 2,200 $9 $10 March 13 3,900 @ $8 @ During March 12,200 units were sold. Waterway uses a periodic inventory system. Determine the cost of goods available for sale. The cost of goods available for sale $ Calculate Average Cost. (Round answer to 3 decimal places, s. 5.125) Average Costs e Textbook and Media List of Accounts 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. 125.) FIFO LIFO AVERAGE-COST The ending inventory $ The cost of goods sold $ e Textbook and Media List of Accounts 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. e Textbook and Media List of Accounts to search