Coronado Distribution markets CDs of the performing artist Unique. At the beginning of October, Coronado had in beginnin
Posted: Wed Mar 09, 2022 8:20 am
Coronado Distribution markets CDs of the performing artist
Unique. At the beginning of October, Coronado had in beginning
inventory 2,000 of Unique’s CDs with a unit cost of $5. During
October, Coronado made the following purchases of Unique’s CDs.
Oct. 3
Oct. 19
Oct. 9
Oct. 25
During October, 10,700 units were sold. Coronado uses a periodic
inventory system.
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). (Round answers to 0 decimal places,
e.g. 1,250.)
Unique. At the beginning of October, Coronado had in beginning
inventory 2,000 of Unique’s CDs with a unit cost of $5. During
October, Coronado made the following purchases of Unique’s CDs.
Oct. 3
Oct. 19
Oct. 9
Oct. 25
During October, 10,700 units were sold. Coronado uses a periodic
inventory system.
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). (Round answers to 0 decimal places,
e.g. 1,250.)