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+ Chapter Eleven Homework Assignment -13 Question 5 of 8 Sunland Distribution markets CDs of the performing artist Unique. At the beginning of October, Sunland had in beginning inventory 1,960 of Unique's CDs with a unit cost of $7. During October, Sunland made the following purchases of Unique's CDs. 2,820 $10 Oct. 3 2,350 Oct. 19 $8 $11 3,760 3.290 @ $9 Oct. 25 Oct. 9 + Chapter Eleven Homework Assignment -13 Question 5 of 8 Triventory System Determine the cost of goods available for sale. Cost of goods available for sale $ e Textbook and Media + Chapter Eleven Homework Assignment Question 5 of 8 - 13 E 1 Calculate weighted average unit cost per unit. (Round answer to 3 decimal places, e.g. 2.225.) $ Weighted average unit cost e Textbook and Media + Chapter Eleven Homework Assignment Question 5 of 8 -/3 E 1 FIFO LIFO AVERAGE-COST $ $ The ending inventory $ $ $ The cost of goods sold $ e Textbook and Media + Chapter Eleven Homework Assignment Question 5 of 8 > 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) 1 produces the highest inventory amount, $ (2) o produces the highest cost of goods sold. $ Textbook and Media Sunland Distribution markets CDs of the performing artist Unique. At the beginning of October, Sunland had in beginning inventory 1,960 of Unique's CDs with a unit cost of $7. During October, Sunland made the following purchases of Unique's CDs. Oct 3 2.350 @ $8 Oct. 19 2.820 $10 Oct. 9 3,290 $9 Oct. 25 3,760 @ $11 During October 10,246 units were sold. Sunland uses a periodic inventory system. Determine the cost of goods available for sale. Cost of goods available for sale $ eTextbook and Media Calculate weighted average unit cost per unit. (Round answer to 3 decimal places, eg. 2.225.) Weighted average unit cost $ 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. 1,250.) FIFO LIFO AVERAGE-COST The ending inventory $ $ $ The cost of goods sold $ $ $ eTextbook and Media 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) produces the highest inventory amount, $ 12) produces the highest cost of goods sold. $