Question: Help/? need help on this one problem?? Please attachment for problem ?? Problem 6-2A Dyna Distribution markets CDs of the performing artist King James. At

Help/? need help on this one problem?? Please attachment for problem ??

Problem 6-2A Dyna Distribution markets CDs of the performing artist King James. At the beginning of March, Dyna had in beginning inventory 3,825 King James CDs with a unit cost of $2 During March, Dyna made the following purchases of King James CDs. March 5 March 13 8,925 10,200 @ @ $5 $6 March 21 March 26 5,100 5,100 @ @ $12 $13 During March, 25,500 units were sold. Dyna uses a periodic inventory system. Determine the cost of goods available for sale. $ The cost of goods available for sale Calculate average cost per unit. (Round answer to 4 decimal places, e.g. $2.2520.) $ Average cost per unit 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. $2,120.) FIFO The ending inventory The cost of goods sold LIFO AVERAGE-COST $ $ $ $ $ $ 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) (2) produces the highest inventory amount, $ . produces the highest cost of goods sold, $
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
