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 2 years ago

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