WIL WET Red Correct and incorrec The following information is taken from the inventory records of the CNB Company for the month of Septemb 15 14.94/18 points awarded Beginning inventory, 9/1/2021 5,000 units @ $10.00 Purchases: 9/7 3,000 units @ $10.40 9/25 8,000 units @ $19.75 Sales: 9/10 4,000 units 9/29 5,080 units 7,000 units were on hand at the end of September. 03-13:22 Scored Required: 1. Assuming that CNB uses a periodic Inventory system and employs the average cost method, determine ce September and September's ending inventory 2. Assuming that CNB uses a perpetual inventory system and employs the average cost method, determine 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 periodic inventory system and employs the average cost method, determine cost of 9 ending inventory. (Round cost per unit to 2 decimal places) Cost of Goods Available for Sale Cost of Goods Sold Average Cost Ending Inventory Cost of Average cost #of #of Average Averad Goods Unit # of units Cost of units units Available Cost Cost per Costp Goods in ending Unit sold Sold for Sale unit inventory Reginning Inventory 5.00 IS 50.000 peuvoty system and employs the average cost method, determine cost of goods sold for September and September's ending inventory. 3 warded Complete this question by entering your answers in the tabs below. 13:16 Required 1 Required 2 d Assuming that CNB uses a periodic inventory system and employs the average cost method, determine cost of goods sold for September and ending inventory. (Round cost per unit to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold - Average Cost Ending Inventory - Average Cost Average Cost Cost of # of Unit Goods #of Average Cost of # of units Average units Cost Availalt units Cost per Goods in ending Cost per Ending sold for Sale Unit Sold inventory Inventory unit Beginning Inventory 5,000 $ 50.000 10.00 Purchases s 9/7 3,000 31,200 10.40 $ 9/25 8,000 10.75 86,000 s Total is 16,000 S 167,200 9,000 $10.45 $ 94,050 7,000 73,150.00 512 050 000 Required 2 > Redes was born womand caution correct moins deducted Complete this question by entering your answers in the tabs below. 15 Required 1 Required 2 14.94/18 points awarded Assuming that CNB uses a perpetual inventory system and employs the average cost method, determine cost of goods for September and September's ending inventory. (Enter inventory reductions for sales with a minus sign. Round cost pe to 2 decimal places.) 03:13:06 Perpetual Average # of units of units sold entory on hand Cost per Inventory unit Value 10.00 $50,000 10.40 31,200 Cost of Goods Sold Average Cost of Cost per Goods unit Sold Scored 5,000 3,000 8,000 (4,000) 10.15 10.15 10.30 81,200 (40,600) 40,600 4,000 $ Beginning Inventory Purchase September 7 Subtotal Average Cost Sale - September 10 Subtotal Average Cost Purchase September 25 Subtotal Average Cost Sale - September 29 Total 10.15 $ 40,600 4,000 86.000 126,600 8,000 10.75 12.000 10.55 (5,000) 10.55 7,000 10.55 (52,750) $ 73,850 5,000 9.000 52.750 $ 93,350
