Beginning inventory, 9/1/2021 8,000 units @ $10.00 Purchases: 9/7 6,000 units @ $10.70 9/25 6,000 units @ $11.40 Sales: 9/10 5,000 units 9/29 6,500 units 8,500 units were on hand at the end of September. Required: 1. Assuming that CNB uses a periodic inventory system and employs the average cost method, determine cost of goods sold for September and September's ending inventory. 2. Assuming that CNB uses a perpetual inventory system and employs the average cost method, determine cost of goods sold for September and September's ending inventory. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assuming that CNB uses a periodic inventory system and employs the average cost method, determine cost of goods sold for September and September's ending inventory. (Round cost per unit to 2 decimal places.) Average Cost Cost of Goods Available for Sale Cost of # of units Unit Cost Goods Available for Sale 8,000 $ 10.00 $ 80,000 Cost of Goods Sold - Average Cost # of units Average Cost of Cost per sold Goods Sold Unit Ending Inventory - Average Cost # of units Average Ending in ending Cost per Inventory inventory unit Beginning Inventory Purchases: 9/7 10.70 6,000 $ 6,000 $ 20,000 9/25 Total 11.40 64,200 68,400 212,600 $ 30,000 $ 10.70 $ 321,000 Perpetual Average # of units sold Cost of Goods Sold Average Cost Cost of Goods Sold unit per unit Beginning Inventory Purchase - September 7 Subtotal Average Cost Sale - September 10 Subtotal Average Cost Purchase - September 25 Subtotal Average Cost Sale - September 29 Total Inventory on hand Cost per Inventory # of units Value 8,000 $ 10.00 $ 80,000 6,000 10.70 64,200 14,000 10.30 144,200 5,000 19,000 144,200 16,000 10.90 174,400 35,000 318,600 35,000 $ 318,600 0 $ 0