Glee Distribution markets CDs of the performing artist Unique. At the beginning of October, Glee had in beginning inventory 2,000 of Unique's CDs with a unit cost of $7. During October, Glee made the following purchases of Unique's CDs. Oct. 3 2,500 @ $8 Oct. 19 3,000 @ $10 Oct. 9 3,500 @ $9 Oct. 25 4,000 @ $11 During October, 10,900 units were sold. Glee uses a periodic inventory system. v (a) Your answer is correct.
Glee Distribution markets CDs of the performing artist Unique. At the beginning of October, Glee had in beginning inventory 2,000 of Unique's CDs with a unit cost of $7. During October, Glee made the following purchases of Unique's CDs. Oct. 3 2,500 @ $8 Oct. 19 3,000 @ $10 Oct. 9 3,500 @ $9 Oct. 25 4,000 @ $11 During October, 10,900 units were sold. Glee uses a periodic inventory system. v (a) Your answer is correct.
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 6EA: Logo Gear purchased $2,250 worth of merchandise during the month, and its monthly income statement...
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![v (b2)
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.
FIFO
LIFO
AVERAGE-COST
The ending inventory
24
%24
The cost of goods sold
%24](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fda9b6731-953a-40c7-97a4-e60b10014220%2Fcd21b03c-8766-4199-95ab-56963e6490b5%2Ffp9pxo_processed.jpeg&w=3840&q=75)
Transcribed Image Text:v (b2)
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.
FIFO
LIFO
AVERAGE-COST
The ending inventory
24
%24
The cost of goods sold
%24
![Glee Distribution markets CDs of the performing artist Unique. At the beginning of October, Glee had in beginning inventory 2,000 of Unique's CDs with a unit cost of $7. During October, Glee made
the following purchases of Unique's CDs.
Oct. 3 2,500 @ $8
Oct. 19 3,000 @ $10
Oct. 9 3,500 @ $9
Oct. 25 4,000 @ $11
During October, 10,900 units were sold. Glee uses a periodic inventory system.
v (a)
V Your answer is correct.
Determine the cost of goods available for sale.
Cost of goods available for sale
139,500](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fda9b6731-953a-40c7-97a4-e60b10014220%2Fcd21b03c-8766-4199-95ab-56963e6490b5%2Fh7qjb6_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Glee Distribution markets CDs of the performing artist Unique. At the beginning of October, Glee had in beginning inventory 2,000 of Unique's CDs with a unit cost of $7. During October, Glee made
the following purchases of Unique's CDs.
Oct. 3 2,500 @ $8
Oct. 19 3,000 @ $10
Oct. 9 3,500 @ $9
Oct. 25 4,000 @ $11
During October, 10,900 units were sold. Glee uses a periodic inventory system.
v (a)
V Your answer is correct.
Determine the cost of goods available for sale.
Cost of goods available for sale
139,500
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