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Sheridan Distribution markets CDs of the performing artist Unique. At the beginning of October, Sheridan...

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Accounting

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Sheridan Distribution markets CDs of the performing artist Unique. At the beginning of October, Sheridan had in beginning Imventory 2,000 of Unique's CO5 with a unit cost of $7. During October, Sheridan made the following purchases of Unique's CDs. During October, 10,850 units were sold. Sheridan uses a periodic inventcry system. Determine the cost of goods available for sale. Cost of goods avallable for sale Your answer is correct. Calculate cost per unit. (Round answer to 2 decimal ploces, es. 225) Your answer is purtially correct. Determine (1) the ending imentory and (2) the cost of gocds sold under exch of the ansumed cost flow methods (FiFO, LFO and average-cost). (Round answers to Odecimal places eg. 1,250) eToxtbook and Media 6. Vour anwwer b partialib correct. Which cost flow method results in (1) the highest inverdory amount for the batance sheet and (2) the highest cost of goods soid for the income statement? (1) produces the highest imentory anoun, 5 (2) produces the highest cost of poods sold, s

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