Coronado Industries markets CDs of numerous performing artists. At the beginning of March, Coronado had in beginning inventory 2,800 CDs with a unit cost of $8. During March, Coronado made the following purchases of CDs. March 5 March 13 2,200 @ $9 3,400 @ $10 (a) Your answer is incorrect. During March 11,600 units were sold. Coronado uses a periodic inventory system. Determine the cost of goods available for sale. March 21 The cost of goods available for sale $ Average Cost $ March 26 eTextbook and Media List of Accounts Calculate Average Cost. (Round answer to 3 decimal places, e.g. 5.125.) Save for Later 5,400 @ 2,200 @ $11 $12 Attempts: 1 of 2 used Submit Answer

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.