Oriole Company markets CDs of numerous performing artists. At the beginning of March, Oriole had in...

Oriole Company markets CDs of numerous performing artists. At the beginning of March, Oriole had in beginning inventory 2,600 CDs with a unit cost of $8. During March, Oriole made the following purchases of CDs.

March 5		2,100		@		$9		March 21		5,500		@		$11
March 13		3,700		@		$10		March 26		2,100		@		$12

During March 12,000 units were sold. Oriole 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. 125.)

	FIFO	LIFO	AVERAGE-COST
The ending inventory	$	$	$
The cost of goods sold	$	$	$

Expert Solution

ekkarill92 answered 3 years ago

Current Attempt in Progress Oriole Company markets CDs of numerous performing artists. At the beginning of...

Current Attempt in Progress Oriole Company markets CDs of numerous performing artists. At the beginning of March, Oriole had in beginning inventory 2,600 CDs with a unit cost of $8. During March, Oriole made the following purchases of CDs. March 5 2,100 @ $9 March 21 5,500 @ $11 March 13 3,700 @ $10 March 26 2,100 @ $12 During March 12,000 units were sold. Oriole uses a periodic inventory system. Determine the cost of goods available for sale. The...

Swifty Distribution markets CDs of numerous performing artists. At the beginning of March, Swifty had in...

Swifty Distribution markets CDs of numerous performing artists. At the beginning of March, Swifty had in beginning inventory 3,900 CDs with a unit cost of $7. During March, Swifty made the following purchases of CDs. March 5 4,875 @ $8 March 21 7,850 @ $10 March 13 6,825 @ $9 March 26 5,800 @ $11 During March 21,000 units were sold. Swifty uses a periodic inventory system.Determine (1) the ending inventory and (2) the cost of goods sold under each...

Wildhorse Co. markets CDs of numerous performing artists. At the beginning of March, Wildhorse had in...

Wildhorse Co. markets CDs of numerous performing artists. At the beginning of March, Wildhorse had in beginning inventory 2,500 CDs with a unit cost of $8. During March, Wildhorse made the following purchases of CDs. March 5 2,000 @ $9 March 21 4,900 @ $11 March 13 3,800 @ $10 March 26 2,000 @ $12 During March 11,600 units were sold. Wildhorse uses a periodic inventory system. Determine the cost of goods available for sale. The cost of goods available...

Cheyenne Corp. markets CDs of numerous performing artists. At the beginning of March, Cheyenne Corp. had...

Cheyenne Corp. markets CDs of numerous performing artists. At the beginning of March, Cheyenne Corp. had in beginning inventory 2,390 CDs with a unit cost of $7. During March, Cheyenne Corp. made the following purchases of CDs. March 5 2,030 @ $8 March 21 5,060 @ $10 March 13 3,260 @ $9 March 26 1,800 @ $11 During March 11,470 units were sold. Cheyenne Corp. uses a periodic inventory system. Determine the cost of goods available for sale (b) Calculate...

Blue Spruce Distribution markets CDs of numerous performing artists. At the beginning of March, Blue Spruce...

Blue Spruce Distribution markets CDs of numerous performing artists. At the beginning of March, Blue Spruce had in beginning inventory 4,200 CDs with a unit cost of $7. During March, Blue Spruce made the following purchases of CDs. March 5 5,250 @ $8 March 21 8,300 @ $10 March 13 7,350 @ $9 March 26 6,400 @ $11 During March 23,000 units were sold. Blue Spruce uses a periodic inventory system. B2. Determine (1) the ending inventory and (2) the...

Problem 6-2A (Part Level Submission) Dunbar Distribution markets CDs of numerous performing artists. At the beginning...

Problem 6-2A (Part Level Submission) Dunbar Distribution markets CDs of numerous performing artists. At the beginning of March, Dunbar had in beginning inventory 3,613 CDs with a unit cost of $10. During March, Dunbar made the following purchases of CDs. March 5 2,890 @ $12 March 13 5,058 @ $13 March 21 7,225 @ $14 March 26 2,890 @ $16 During March 17,340 units were sold. Dunbar uses a periodic inventory system. Costs of goods available for sale $283, 954...

Kyota Distribution markets CDs of the performing artists. Following information is available for the company. Date...

Kyota Distribution markets CDs of the performing artists. Following information is available for the company. Date Explanation Units Unit cost Total Cost 1st of March 2012 Beginning inventory 15,00 SR 7 SR 10500 5th March Purchases 3,000 SR 8 24,000 13th March Purchases 5,500 SR 9 49,500 21st march Purchases 4,000 SR10 40,000 March 26 Purchases 2,000 SR 11 22,000 Total 16,000 135,500 Requirement: Ending inventory of the company is 12,500 units. Find the Costs of goods sold for the...

Glee Distribution markets CDs of the performing artist Unique. At the beginning of October, Glee had...

Glee Distribution markets CDs of the performing artist Unique. At the beginning of October, Glee had in beginning inventory 4,800 of Unique’s CDs with a unit cost of $7. During October, Glee made the following purchases of Unique’s CDs. October 3 - 6,000 @ $8 October 9- 8,500 @ $9 October 19-7,000 @ $10 October 25-9500 @ $11 Determine the cost of goods available for sale. Determine (1) the ending inventory and (2) the cost of goods sold under each...

Bridgeport Distribution markets CDs of the performing artist Fishe. At the beginning of October, Bridgeport had...

Bridgeport Distribution markets CDs of the performing artist Fishe. At the beginning of October, Bridgeport had in beginning inventory 2,400 of Fishe’s CDs with a unit cost of $6. During October, Bridgeport made the following purchases of Fishe’s CDs. Oct. 3 3,000 @ $7 Oct. 19 3,600 @ $9 Oct. 9 4,200 @ $8 Oct. 25 4,800 @ $10 During October, 13,080 units were sold. Bridgeport uses a periodic inventory system. Determine the cost of goods available for sale. Cost...

Express Distribution markets CDs of the performing artist Fishe. At the beginning of October, Express had...

Express Distribution markets CDs of the performing artist Fishe. At the beginning of October, Express had in beginning inventory 3,100 of Fishe’s CDs with a unit cost of $7. During October, Express made the following purchases of Fishe’s CDs. Oct. 3 3,875 @ $8 Oct. 19 4,650 @ $10 Oct. 9 5,425 @ $9 Oct. 25 6,200 @ $11 During October, 16,895 units were sold. Express uses a periodic inventory system. Determine the cost of goods available for sale. Cost...

Question