Determine the ending inventory

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Question - Glanville Distribution markets CDs of the performing artist Harrilyn Clooney. At the beginning of March, Glanville had in beginning inventory 1,500 Clooney CDs with a unit cost of $7. During March Glanville made the following purchases of Clooney CDs.

March 5

3,000 @ $8


March 21

4,000 @ $10

March 13

5,500 @ $9


March 26

2,000 @ $11

During March 12,500 units were sold. Glanville 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).

Determine the costs of goods available for sale.

Reference no: EM131787977

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