Whispering Winds Corp. had a beginning inventory of 110 units of Product RST at a cost of $7 per unit. During the year, purchases were:

Problem 6-03A Whispering Winds Corp. had a beginning inventory of 110 units of Product RST at a cost of $7 per unit. During the year, purchases were: Feb. 20 May 5 670 5 10 units at units at $8 $9 Aug. 12 Dec. 8 400 110 units at units at $10 $11 Whispering Winds uses a periodic inventory system. Sales totaled 1,540 units. Your answer is correct. Determine the cost of goods available for sale. The cost of goods available for sale J 15930 Calculate Average Cost. (Round answer to 3 decimal places, e.g. 5.125.) Average cost T 8.85 SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO VIDEO Your answer is partially correct. Try again. Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to O decimal pla FIFO LIFO AVERAGE-COST The ending inventory 5210 6130 2301 The cost of goods sold 10720 9800 13629 * Your answer is incorrect. Try again. Which cost flow method results in the lowest inventory amount for the balance sheet? The lowest cost of goods sold for the income statement? XLI LIFO . results in the lowest inventory amount for the balance sheet. IIIIIIIIIIIIIIIIIIIIIIII ... LLLLLLL... LIFO X LIFO results in the lowest cost of goods sold for the income statement