Accounting

Glee Distribution markets CDs of the performing artist Unique At the beginning of October, Glee had in beginning inventory 5,400 of Unique’s CDs with a unit cost of $7 During October, Glee made the following purchases of Unique’s CDs

 

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Oct 3 6,750 @ $8 Oct 19 8,100 @ $10 Oct 9 9,450 @ $9 Oct 25 10,800 @ $11

 

During October, 29,430 units were sold Glee uses a periodic inventory system

 

 

FIFO LIFO AVERAGE-COST

 

The ending inventory $ $ $

 

 

The cost of goods sold $ $ $

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