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Cullumber Company uses a perpetual inventory system and reports the following inventory transactions for the month of July: Units Unit Cost Total Cost July 1

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Cullumber Company uses a perpetual inventory system and reports the following inventory transactions for the month of July: Units Unit Cost Total Cost July 1 Inventory 150 $10.00 $1,500.00 12 Purchases 230 11.25 2,587.50 20 Sale (250) 28 Purchases 490 12.00 5,880.00 ................................................................................................................................................... Calculate the cost of goods sold and ending inventory under (1) FIFO and (2) weighted average. (Round the weighted average cost per unit to two decimal places, ea. 5.27 and nal answers to 2 decimal places, e3. 5,275.75.) Cost of goods sold 35 2625 Weighted average

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