Problem 6-03A a, b1-b2, (Video) Concord Company had a beginning inventory on January 1 of 180 units of Product 4-18-15 at a cost of $20 per unit. During the year, the following purchases were made. Mar. 15 July 20 490 units 250 units at at $22 $24 Sept. 4 Dec. 2 320 units 100 units at at $26 $28 1,140 units were sold. Concord Company uses a periodic inventory system. Your answer is correct. Determine the cost of goods available for sale. The cost of goods available for sale 31500 SHOW SOLUTION SHOW ANSWER LINK TO TEXT VIDEO: SIMILAR PROBLEM Your answer is correct. Calculate average cost per unit. (Round answer to 3 decimal places, e.g. 1.250.) Average cost per unit 23.507 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 o decimal places, e.g. 1,250.) FIFO LIFO AVERAGE-COST The ending inventory 7120 5800 - 24 The cost of goods sold | 26799 LINK TO TEXT Your answer is partially correct. Try again. 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? FIFO 7120 results in the highest inventory amount, $ (2) UFO produces the highest cos produces the highest cost of goods sold, $ Click if you would like to show Work for this question: Open Show Work