Homework (max 250) ASS.. Saved Help Save & Exit Subm The following information is taken from the inventory records of the CNB Company for the month of September: Beginning inventory, 9/1/2021 5,000 units @ $10.00 Purchases: 9/7 3,000 units @ $10.40 9/25 8,000 units @ $10.75 Sales: 9/10 4,000 units 9/29 5,000 units 7,000 units were on hand at the end of September. ed & ok Required: 1. Assuming that CNB uses a periodic inventory system and employs the average cost method, determine cost of goods sold for September and September's ending inventory 2. Assuming that CNB uses a perpetual inventory system and employs the average cost method, determine cost of goods sold for September and September's ending inventory. Complete this question by entering your answers in the tabs below. Tk (max 230) Assigned i Saved Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assuming that CNB uses a periodic inventory system and employs the average cost method, determine cost of goods sold for ending inventory. (Round cost per unit to 2 decimal places.) Average Cost Cost of Goods Available for Sale Unit Cost of Goods # of units Cost Available for Sale 5,000 5 10.00 S 50.000 Cost of Goods Sold Average Cost Ending Inventory Average Cost # of units Average Cost of # of units Average sold Ending Cost per Goods Sold in ending Inventory Unit inventory unit Cost per Beginning Inventory Purchases 9/7 9/25 Total 3,000 $ 10.40 8,000 S 10.75 16.000 31,200 86.000 167 200 S Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Requad 2 Assuming that CNB uses a perpetual inventory system and employs the average cost method, determine ce for September and September's ending inventory. (Enter inventory reductions for sales with a minus sign. to 2 decimal places.) Perpetual Average Inventory on hand Cost of Goods Sold # of units Inventory # of units Average Cost of unit Value sold Cost per unit Goods Sold Cost per 0 0 Beginning Inventory Purchase - September 7 Subtotal Average Cost Sale - September 10 Subtotal Average Cost Purchase - September 25 Subtotal Average Cost Sale - September 29 Total 0 0 0 0 $ 0 0 S