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Cullumber Distribution markets CDs of numerous performing artists. At the beginning of March, Cullumber had...

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Cullumber Distribution markets CDs of numerous performing artists. At the beginning of March, Cullumber had in beginning inventory 2,700CD s with a unit cost of $6,00. During March, Cullumber made the following purchases of CDs. During March 11,900 units were sold. Cullumber uses a periodic inventory system. Determine the cost of goods available for sale. Cost of goods available for sale Calculate weighted-average cost per unit. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average cost per unit 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, es. 125.) 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? (1) produces the highest inventory amount. (2) produces the highest cost of goods sold

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