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11. Glee Distribution markets CDs of the performing artist Unique. At the beginning of October, Glee had in beginning in
Posted: Tue Jul 05, 2022 11:48 am
by answerhappygod
- 11 Glee Distribution Markets Cds Of The Performing Artist Unique At The Beginning Of October Glee Had In Beginning In 1 (112.33 KiB) Viewed 12 times
11. Glee Distribution markets CDs of the performing artist Unique. At the beginning of October, Glee had in beginning inventory 2,000 of Unique's CDs with a unit cost of $7. During October, Glee made the following purchases of Unique's CDs. 10 3,000 @ $10 4,000 @ $11 Oct. 3 2,500 @ $8 3,500 @ $9 Oct. 19 Oct. 25 Oct. 9 During October, 10,900 units were sold. Glee uses a periodic inventory system. Requirements: 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 and average-cost). Prove the accuracy of the cost of goods sold under each method.