Problem 6-02A a, b1-b2, c (Video) 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. 9 3,500 e $9 Oct. 19 3,000 @ $10 Oct. 25 4,000 e $11 During October, 10,900 units were sold. Glee uses a periodic inventory system. Determine the cost of goods available for sale. Cost of goods available for sale %24 LINK TO TEXT Calculate cost per unit. (Round answer to 2 decimal places, e.g. 2.25.) Cost per unit %24 UNK TOΤΕX 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. 1,25o.) FIFO LIFO AVERAGE-COST The ending inventory The cost of goods sold %24 LINK TO TEXT Vhich 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? produces the highest inventory amount, $ produces the highest cost of goods sold, $

Problem 6-02A a, b1-b2, c (Video) 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. 9 3,500 e $9 Oct. 19 3,000 @ $10 Oct. 25 4,000 e $11 During October, 10,900 units were sold. Glee uses a periodic inventory system. Determine the cost of goods available for sale. Cost of goods available for sale %24 LINK TO TEXT Calculate cost per unit. (Round answer to 2 decimal places, e.g. 2.25.) Cost per unit %24 UNK TOΤΕX 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. 1,25o.) FIFO LIFO AVERAGE-COST The ending inventory The cost of goods sold %24 LINK TO TEXT Vhich 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? produces the highest inventory amount, $ produces the highest cost of goods sold, $

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Description: Please answer this accounting problem. Fill out every single box correctly Problem 6-02A a, b1-b2, c (Video)Glee Distribution markets CDs of the performing artist Unique. At the beginning of October, Glee had in beginning inventory 2,000 of Unique's

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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