Wey AP_12e_ET_Ch06 P6-2A.xlsx - Excel Christina Kempf -O X File Insert Page Layout FormulasData Review View Tell me what you want to do AutoSum . A Cut Copy Fonmat Painter .AA, Wiap Text Liberation Sans 12 General Forr dit nal Fornn tas Shel. Paste e 8.00 insert Delete Format Sort & Find & Filter Select B 1 u- 1. 2. A EE Menge & Center $ . % , . Formatting Table, Styles onmatting Table Styles Clipboard Font Alignment Number Cells Editing 017 0 2 Glee Distribution markets CDs of the performing artist Unique. At the beginning of October, Glee had in beginning 3 inventory 2,000 of Unique's CDs with a unit cost of $7. During October, Glee made the following purchases of Unique's CDs. Oct 19 3,000 $10 Oct 25 4,000 $11 Oct 3 2,500 @ $8 Oct 9 3,500 @s9 During October, 10,900 units were sold. Glee uses a periodic inventory system. 9 Instructions 10 (a) Determine the cost of goods available for sale. 11 (b) Determine (1) the ending inventory and (2) the cost of goods sold under each of the 12 13 14(c) Which cost flow method results in (1) the highest inventory amount for the balance sheet and 15 16 NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a"?". 17 18 19 ) Determine the cost of goods available for sale. 20 21 assumed cost flow methods (FIFO, LIFO and average cost). Prove the accuracy of the cost of goods sold under the FIFO and LIFO methods. (2) the highest cost of goods sold for the income statement? COST OF GOODS AVAILABLE FOR SALE Explanation Date Units Unit Cost Total Cost P6-2A Ready . + 100% 800 PM Ask me anything ^41)) 10/25/2016