Problem 6-16A: Calculate the ending inventory and cost of goods sold using the average cost formula in (1) a perpetual inventory system, and (2) a periodic inventory system.

Cheyenne Inc.'s inventory for the month of November was as follows: Date Description Nov. 1 Beginning inventory 4 Purchase 11 Sale 16 Purchase 20 Sale 27 Purchase Units Unit Cost 100 500 (450) 750 (800) 600 (a) Calculate the ending inventory and cost of goods sold using the average cost formula in (1) a perpetual inventory system, and (2) a periodic inventory system. (Round answers to 2 decimal places, e.g. 1.25.) Perpetual Inventory System Periodic Inventory System Ending Inventory Cost of Goods Sold