Riverbed Distribution markets CDs of numerous performing artists. At the beginning of March,
Riverbed had in beginning inventory CDs with a unit cost of $ During March, Riverbed
made the following purchases of CDs
March @ $ March @ $
March @ $ March @ $
During March units were sold. Determine the cost of goods available for sale.
Cost of goods available for sale $ Calculate weightedaverage cost per unit. Round answer to decimal places, eg
Weightedaverage cost per unit $ Riverbed uses a periodic inventory system.
Determine the ending inventory and the cost of goods sold under each of the assumed
cost flow methods FIFO LIFO, and averagecost Prove the accuracy of the cost of goods
sold under the FIFO and LIFO methods. Round answersto decimal places, eg Use
weightedaverage unit cost rounded to decimal placesfor computations.
