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You have the following information for Cullumber Inc. for the month ended October 31, 2025. Cullumber uses a periodic system for inventory. Date Description
You have the following information for Cullumber Inc. for the month ended October 31, 2025. Cullumber uses a periodic system for inventory. Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory 65 $26 Oct. 9 Purchase 115 28 Oct. 11 Sale 95 40 Oct. 17 Purchase 95 29 Oct. 22 Sale 65 45 Oct. 25 Purchase 75 31 Oct. 29 Sale 105 45 Your answer is correct. Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average cost per unit $ 28.543 eTextbook and Media Your answer is incorrect. Calculate ending inventory, cost of goods sold, and gross profit under each of the following methods. 1. LIFO. 2. FIFO. 3. Average-cost. (Round answers to O decimal places, e.g. 125.) Ending inventory Cost of goods sold Gross profit eTextbook and Media LIFO 8300 1690 FIFO AVERAGE-COS
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