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

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Accounting

Riverbed Distribution markets CDs of numerous performing artists. At the beginning of March,
Riverbed had in beginning inventory 3,600 CDs with a unit cost of $7. During March, Riverbed
made the following purchases of CDs.
March 54,500 @ $8 March 217,400 @ $10
March 136,300 @ $9 March 265,200 @ $11
During March 20,000 units were sold. Determine the cost of goods available for sale.
Cost of goods available for sale $ 249100 Calculate weighted-average cost per unit. (Round answer to 3 decimal places, e.g.2.257.)
Weighted-average cost per unit $ 9.226 Riverbed 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 answersto 0 decimal places, e.g.1,250. Use
weighted-average unit cost rounded to 3 decimal placesfor computations.)

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