You are given the following information for Cullumber Company for the month ended November 30, 2021: Units 58 100 Unit Price $52 46 Date Description Nov. 1 Beginning inventory 9 Purchase 15 Sale 22 Purchase 29 Sale 30 Purchase (125) 145 (170) 48 41 Cullumber Company uses a perpetual inventory system. All sales and purchases are on account. Calculate the cost of goods sold and the ending inventory using FIFO. Cost of goods sold $ Ending inventory $ e Textbook and Media List of Accounts PSG Google Assume the sales price was $66 per unit for the goods sold on November 15, and $60 per unit for the sale on November 29. Prepare journal entries to record the November 22 purchase and the November 29 sale. (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 for the amounts.) Date Account Titles and Explanation Nov. 22 Debit Credit (To record purchase on account.) Nov. 29 (To record sales on account.) Nov. 29 (To record cost of goods sold.) e Textbook and Media List of Accounts unteerpage. Calculate gross profit for November. in Linkedin Self Service W PLUS G Google Gross profit $ e Textbook and Media List of Accounts Assume that at the end of November, the company counted its inventory. There Sre 52 units on hand. What journal entry, if any, should the company make to record the shortage? (Credit account titles are automatically indented when the amount is entered. Do not indent manuallyIf no entry is requires Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit (To record cost of goods sold.) e Textbook and Media List of Accounts If the company had not discovered this shortage, what would be oversta or understated on the balance sheet and income statement and by what amount? The on the as well as the accoun The e Textbook and Media List of Accounts Attempts: 0 of 3 used Submit Answer Save for Later