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Bridgeport Distribution markets CDs of the performing artist Fishe./ At the beginning/ of October, Bridgeport /had in beginning inventory 2,400 of Fish/es CDs with a uit cost of $6. During Oct/o/ber, Bridgeport mad/e the foll/owing purchases of Fishes CDs.

Cost of goods available for sale

$ 149400

Weighted average cost per unit

$ 8.3

Determin/e (1) the ending inventory and (2) the cost of goo./ds sold under ea/ch of the/ /assumed cost flow /methods (FIFO, LIFO, and average-cost). Prove the accuracy of/ the co/st of goods/ sold/ under t/he FIF/O and LIFO/ me/thods.

Bridgeport Distribution markets CDs of the performing artist Fishe. At the beginning of October, Bridgeport had in beginning inventory 2,400 of Fishe's CDs with a unit cost of $6. During October, Bridgeport made the following purchases of Fishe's CDs. Oct. 3 3,000 @ $7 Oct. 94,200 @ $8 Oct. 19 3,600 @ $9 Oct. 254,800 $10 During October, 13,080 units were sold. Bridgeport uses a periodic inventory system. 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). Prove the accuracy of the cost of goods sold under the FIFO and LIFO methods. (Round answers to O decimal places, e.g. 1,250. Use weighted average unit cost rounded to 2 decimal places for computations.) FIFO LIFO AVERAGE-COST The ending inventory $ A " The cost of goods sold $ " " Attempts: 0 of 5 used

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