(Solved by Humans)-Problem 6A????12A Dyna Distribution markets CDs of the performing artist King James. At the beginnin
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Problem 6A????12A Dyna Distribution markets CDs of the performing artist King James. At the beginning of March, Dyna had in beginning inventory 2,835 King James CDs with a unit cost of $2 During March, Dyna made the following purchases of King James CDs. March 5 6,615 @ $4 March 21 3,780 @ $13 March 13 7,560 @ $5 March 26 3,780 @ $14 During March, 18,900 units were sold. Dyna uses a periodic inventory system. Determine the cost of goods available for sale. The cost of goods available for sale $ Average cost per unit $ Determine (1) the ending inventory and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and averageA????1cost). (Round answers to 0 decimal places, e.g. $2,120.) FIFO LIFO AVERAGEA????1COST The ending inventory $ $ $ The cost of goods sold $ $ $ Which cost flow method results in: (1) the highest inventory amount for the balance sheet? (2) the highest cost of goods sold for the income statement? (1) produces the highest inventory amount, $ . (2) produces the highest cost of goods sold, $ .
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This question was answered on: 10 May, 2025
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