The following information is taken from the inventory records of the CNB Company for the month of September Beginning inventory. 9/1/2021 6,000 units @ $11.00 Purchasest 977 5,000 units $11.00 9/25 9,000 units $11.40 Sales: 9/10 3,000 units 9/29 9,200 units 2,800 units were on hand at the end of September 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. Required: Required 2 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. (Round cost per unit to 2 decimal places) Cast of Goods Avalable for Sale Cost of Goods Seu Amage Cost Ending lovetoy Awe Cout Couto onts Average Average of units Ending Cost of Goods Average Cont Unit Cont Available for Cost per In ending Cost per of units sold Goods Sold Inventory Un unit Inventory $ 56 000 $ 5.000 11.00 Beginning Inventory Purchases 977 9/25 Total 11 00 11.40 5000 $ 9.000 $ 20.000 55.000 102.600 223.600 $ 17.200 Required 2) Hea The following information is taken from the inventory records of the CNB Company for the month of September Beginning inventory, 9/1/2021 6,000 units @ $11.00 Purchases: 9/7 5,000 units @ $11.ee 9,000 units @ $11.40 Sales: 9/1e 8,000 units 9/29 9,200 units 2,800 units were on hand at the end of September 9/25 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. Required 1 Required 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. (Enter Inventory reductions for sales with a minus sign. Round cost per unit to 2 decimal places) Inventory on hand Inventory Cost per # of units unit Value w of units sold Cost of Goods Sold Average Cost Cost of Goods Sold Perpetual Average per unit 0 0 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
