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Your answer is incorrect. Determine (1) the ending inventory and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO,
Your answer is incorrect. 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). Prove the accuracy of the cost of goods sold under the FIFO and LIFO methods. (Round answers to 0 decimal places, e.g. 1,250. Use weighted-average unit cost rounded to 3 decimal places for computations.) eTextbook and Media Attempts: 2 of 5 used Flint Distribution markets CDs of numerous performing artists. At the beginning of March, Flint had in beginning inventory 2,700 CDs with a unit cost of $6. During March, Flint made the following purchases of CDs. During March 15,000 units were sold. Flint uses a periodic inventory system
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