CHAPTER 8 Inventories: Measurement 451 The following information is taken from the inventory records of the CNB Company for the month of September: 5,000 units a $10.00 3,000 units a $10.40 8,000 units @ $10.75 Beginning inventory, 9/1/2018 Purchases: 9/7 9/25 Sales: 9/10 9/29 7.000 units were on hand at the end of September. 4,000 units 5,000 units 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. Repeat requirement I assuming that the company uses a perpetual inventory system