Question: please solve part B Question 2 Cullumber Distribution, Ltd. markets CDs of the performing artist King James. At the beginning of March, Cullumber had in


please solve part B
Question 2 Cullumber Distribution, Ltd. markets CDs of the performing artist King James. At the beginning of March, Cullumber had in beginning inventory 2,925 King James CDs with a unit cost of 2. During March, Cullumber made the following purchases of King James CDs. March 5 March 13 6,825 7,800 @ @ 6 7 March 21 March 26 3,900 3,900 @ @ 14 15 During March, 19,500 units were sold. Cullumber uses a periodic inventory system. (a) Your answer is correct. Determine the cost of goods available for sale. The cost of goods available for sale 214500 By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Attempts: 1 of 3 used Earn Maximum Points available only if you % answer this question correctly in two attempts or less. (b) Determine (1) the ending inventory and (2) the cost of goods sold under the two assumed cost flow methods (FIFO and average-cost). (Round average unit cost to 4 decimal places, e.g. 25.1672 and final answers to o decimal places, e.g. 2,120.) FIFO AVERAGE-COST The ending inventory The cost of goods sold By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Attempts: 0 of 3 used
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
