Solved by verified expert :Question1(10marks)See-it-Again sells old movies on DVD. At the beginning ofOetober, See-it-Again had in beginning inventory 1100DVDs with a unit cost of$5.During October, See~it againmade the following purchases ofDVDs.October 3 [email protected]$6October 9 [email protected]$7October 19 [email protected]$8October [email protected]$9During October, 12100 units were sold. The eompany uses a periodie inventory system. REQUIREDa. Determine the eost ofgoods available for sale.b. Determine the ending inventory and the cost ofgoods sold under each ofthecost flow methods ofFIFO, LIFO, and weighted average cost.c.”Whichcost flow method results in first, the highest inventory amount for thebalance sheet, and seeond, the highest cost ofgoods sold?
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