Question: answer it all correctly and i will give a thumbs up! the ones already selected are most likely wrong so make sure to have the
answer it all correctly and i will give a thumbs up! the ones already selected are most likely wrong so make sure to have the correct answer for them !
Metlock, Inc markets CDs of numerous performing artists. At the beginning of March, Metlock had in beginning inventory 2,500 CDs with a unit cost of $8. During March, Metlock made the following purchases of CDs March 5 1,850 @ $9 March 21 4,800 $11 March 13 4,000 $10 March 26 1.850 $12 During March 11,900 units were sold. Metlock uses a periodic inventory system. Determine the cost of goods available for sale. The cost of goods available for sale $ Calculate Average Cost. (Round answer to 3 decimal places, eg. 5.125.) Average cost $ List of Accounts 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 decimal places, eg. 125.) LIFO AVERAGE-COST FIFO $ $ $ The ending inventory $ $ $ The cost of goods sold List of Accounts Which cost flow method results in (1) the highest inventory amount for the balance sheet and (2) the highest cost of goods sold for the income statement? (1) Average cost v produces the highest inventory amount (2) FIFO produces the highest cost of goods sold. List of Accounts

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