XCorp markets and distributes CD$\text{'}$s$.$ At Mar $01,$ XCorp had $1,000$ CD$\text{'}$s with a unit cost of $$7$ in beginning inventory. During Mar XCorp made these purchases $($XCorp uses a periodic system$)$ During March $12,000$ units were sold.

Instructions:

$($a$)$ Determine the cost of goods available for sale.

$($b$)$ 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$)$

$($c$)$ 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?