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Cullumber Company uses a perpetual inventory system. The company began 2024 with 1,000 lamps in inventory at a cost of $10 per unit. During 2024,

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Cullumber Company uses a perpetual inventory system. The company began 2024 with 1,000 lamps in inventory at a cost of $10 per unit. During 2024, Cullumber had the following purchases and sales of lamps: All purchases and sales are on account. (b) Prepare journal entries to record the June 6 purchase and the October 18 sale. (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 0 for the amounts. Round the average cost per unit to 2 decimal places, eg. 5.27 and final answers to 0 decimal places, eg. 5,275. List all debit entries before credit entries.) Date Account Titles June 6 Oct. 18 (To record sales on account.) Oct. 18 (To record cost of goods sold.)

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