Cullumber Companyuses a perpetual inventory system. The company began 2021 with800lamps in inventory at a cost of $12per unit. During 2021,Cullumberhad the following purchases and sales of lamps:

February 15

Purchased

1,600units @ $18per unit

April 24

Sold

2,000units @ $30per unit

June 6

Purchased

2,800units @ $23per unit

October 18

Sold

1,600units @ $33per unit

December 4

Purchased

1,120units @ $26per unit

All purchases and sales are on account.

Calculate the cost of goods sold and ending inventory using weighted average.(Round the weighted average cost per unit to three decimal places, e.g. 5.275 and final answers to 0 decimal places, e.g. 5,275.)

Average

Cost of goods sold$

Ending inventory$

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 three decimal places, e.g. 5.275 and final answers to 0 decimal places, e.g. 5,275.)

Date

Account Titles and Explanation

Debit

Credit

June 6

(To record purchase on account.)Oct. 18

(To record sales on account.)Oct. 18

(To record cost of goods sold.)

Calculate gross profit for the year.(Round answer to 0 decimal places, e.g. 5,275.)

Gross profit$