Current Attempt in Progress Metlock, Inc. had a beginning inventory of 110 units of Product RST at a cost of $7 per unit. During the year, purchases were: Feb. 20 660 units at $8 425 units at Aug. 12 Dec. 8 $10 $11 May 5 575 units at $9 110 units at Metlock uses a periodic inventory system. Sales totaled 1,520 units. (a) Your answer is incorrect. Determine the cost of goods available for sale. The cost of goods available for sale $ Calculate Average Cost. (Round answer to 3 decimal places, e.g. 5.125.) Average Cost $ (b) Calculate Average Cost. (Round answer to 3 decimal places, e.g. 5.125.) Average Cost SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEOSIMILAR PROBLEM Determine the ending inventory and 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. 150.) FIFO LIFO AVERAGE-COST The ending inventory The cost of goods sold SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO SIMILAR PROBLEM Which cost flow method results in the lowest inventory amount for the balance sheet? The lowest cost of goods sold for the income statement? results in the lowest inventory amount for the balance sheet. results in the lowest cost of goods sold for the income statement. SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO: SIHTUAR PROBLEM Question Attempts: 0 of 3 used