Cullumber Snowboards sells an ultra-lightweight snowboard that is considered to be one of the best on the market. Information follows for Cullumber's purchases and sales of the ultra-lightweight snowboard in October: Date Oct. 1 10 12 13 25 27 Transaction Beginning inventory Purchase Sale Purchase Sale Purchase Units 25 30 (42) 35 (45) 20 Unit Purchase Price Unit Sales Price $302 309 316 322 $484 494

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Chapter1: Financial Statements And Business Decisions
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Cullumber Snowboards sells an ultra-lightweight snowboard that is considered to be one of the best on the market. Information
follows for Cullumber's purchases and sales of the ultra-lightweight snowboard in October:
Date
Oct. 1
10
12
13
25
27
Transaction
Beginning inventory
Purchase
Sale
Purchase
Sale
Purchase i
Units
25
30
(42)
35
(45)
20
Unit Purchase Price
$302
309
316
322
Unit Sales Price
$484
494
Transcribed Image Text:Cullumber Snowboards sells an ultra-lightweight snowboard that is considered to be one of the best on the market. Information follows for Cullumber's purchases and sales of the ultra-lightweight snowboard in October: Date Oct. 1 10 12 13 25 27 Transaction Beginning inventory Purchase Sale Purchase Sale Purchase i Units 25 30 (42) 35 (45) 20 Unit Purchase Price $302 309 316 322 Unit Sales Price $484 494
(a)
Calculate the cost of goods sold and the ending inventory using FIFO and weighted average, assuming Cullumber uses a perpetual
inventory system. (Round the weighted average cost per unit and final answers to 2 decimal places, e.g. 5,265.25.)
Ending inventory
Cost of goods sold
$
$
eTextbook and Media
FIFO
Weighted Average
Transcribed Image Text:(a) Calculate the cost of goods sold and the ending inventory using FIFO and weighted average, assuming Cullumber uses a perpetual inventory system. (Round the weighted average cost per unit and final answers to 2 decimal places, e.g. 5,265.25.) Ending inventory Cost of goods sold $ $ eTextbook and Media FIFO Weighted Average
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