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Sandhill Snowboards sells an ultra-lightweight snowboard that is considered to be one of the best on the market. Information follows for Sandhill's purchases and

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Sandhill Snowboards sells an ultra-lightweight snowboard that is considered to be one of the best on the market. Information follows for Sandhill's purchases and sales of the ultra-lightweight snowboard in October: Date Transaction Units Unit Purchase Price Unit Sales Price Oct. 1 Beginning inventory 25 10 Purchase 12 Sale (42) 13 Purchase 22 25 Sale (45) 27 Purchase 282 $305 30 311 $486 35 317 496 20 324 Assume that all of Sandhill's sales are for cash and all of its purchases are on account. (a) Record the purchase on October 10 and sale on October 12 for Sandhill Snowboards in a perpetual inventory system under (1) FIFO and (2) weighted average. (Round the weighted average cost per unit to 3 decimal places, e.g. 5.275 and final answers to 2 decimal places, eg. 5,275.25, 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 O for the amounts. List all debit entries before credit entries) 1

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