Ayayai Distribution markets CDs of numerous performing artists. At the beginning of March,
Ayayai had in beginning inventory 4,100 CDs with a unit cost of $7. During March, Ayayai
made the following purchases of CDs. During March 22,000 units were sold. Ayayai 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, anc average-cost). Prove the accuracy of the cost of goods sold
under the FIFO and LIFO methods. (Round answers to 0 decimal places e.g. 1,250. Use
weighted-average unit cost rounded to 3 decimal places for computations.).
Ayayai Distribution markets CDs of numerous performing artists. At th.pdf
1. Ayayai Distribution markets CDs of numerous performing artists. At the beginning of March,
Ayayai had in beginning inventory 4,100 CDs with a unit cost of $7. During March, Ayayai
made the following purchases of CDs. During March 22,000 units were sold. Ayayai 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, anc average-cost). Prove the accuracy of the cost of goods sold
under the FIFO and LIFO methods. (Round answers to 0 decimal places e.g. 1,250. Use
weighted-average unit cost rounded to 3 decimal places for computations.)
