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Cullumber Company s inventory records show the following data for the month of September: Units Unit Cost 50 $6.00 Inventory, September 1 Purchases: September 8
Cullumber Company s inventory records show the following data for the month of September: Units Unit Cost 50 $6.00 Inventory, September 1 Purchases: September 8 September 18 225 7.00 225 8.00 A physical inventory on September 30 shows 140 units on hand. Calculate the value of the ending inventory and cost of goods sold in the company uses average cost inventory costing and a periodic inventory system. (Round cost per unit to 2 decimal places and ending inventory and cost of goods sold to the nearest dollar) Ending inventory $ 3375 Cost of goods sold $ 300
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