Cullumber Company sells an ultra-lightweight snowboard that is considered to be one of the best on the market. Information follows for Cullumber's purchases and sales of the ultra-lightweight snowboard in October: Unit Sales Price Date Unit Purchase Price $298 304 Oct. 1 Transaction Beginning inventory Purchase Sale Purchase 10 12 Units 25 30 (42) 35 (45) 20 $459 13 310 Sale 469 25 27 Purchase 317 Assume that all of Cullumber's sales are for cash and all of its purchases are on account. Record the purchase on October 10 and sale on October 12 for Cullumber Company in a perpetual inventory system under (1) FIFO and tighted aver (Round the weighted acest Rites that desimal 527Sandaletto 2 dty AW 15 FB SO 3 - % 5 & 7 6 BU Record the purchase on October 10 and sale on October 12 for Cullumber Company in a perpetual inventory system under (1) FIFO and (2) weighted average. (Round the weighted average cost per unit to three decimal places, eg. 5.275 and final answers to 2 decimal places, e.g. 5,275.25. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation Perpetual-FIFO Oct. 10 b (To record purchase on account.) Oct. 12 (To record cash sales.) Oct. 12 (To record cost of goods sold.) dv 156 Ora 900 Perpetual --Weighted Average Oct 10 (To record purchase on account.) Oct. 12 (To record cash sales.) Oct. 12 (To record cost of goods sold.) e Textbook and Media Assistance Used List of Accounts 15 24 B SP 90 8 7 8 9 % 5 $ 4 *** 3 6 Accounts Payable Accounts Receivable Cash Cost of Goods Sold Freight in Merchandise Inventory Operating Expenses Purchase Returns and Allowances Purchases Sales Sales Returns and Allowances ctv 15 w % 5 a> & 7 8 3 4 Record the purchase on October 13 and sale on October 25 for Cullumber Company in a periodic inventory system under (1) FIFO and (2) weighted average. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation Periodic-FIFO Oct. 13 (To record purchase on account.) Oct. 25 1 (To record cash sales.) Periodic-Weighted Average Oct 13 AW sty 30. * A 0 $ % & 7 9 2 6 Periodic-Weighted Average Oct. 13 (To record purchase on account.) Oct. 25 (To record cash sales.) e textbook and Media Assistance Used List of Accounts Accounts Payable Accounts Receivable 888 Assistance Used Accounts Payable Accounts Receivable Cash Cost of Goods Sold Freight in Merchandise Inventory Operating Expenses Purchase Returns and Allowances Purchases Sales Sales Returns and Allowances $ % 8
