You have the following information for Cullumber Inc. for the month ended October 31, 2025. Cullumber uses a periodic system forinventory.DateOct. 1Oct. 9Oct. 11.Oct. 17Oct. 22Oct. 25Oct. 29DescriptionBeginning inventoryPurchaseSalePurchaseSalePurchaseSaleUnits Unit Cost or Selling Price$26286513010010065751104529503150 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 0 decimal places, e.g. 125.)Ending inventoryCost of goods soldGross profit$$$LIFO$$$FIFO$$AVERAGE-COST

Name: You have the following information for Cullumber Inc. for the month e
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Description: You have the following information for Cullumber Inc. for the month ended October 31, 2025. Cullumber uses a periodic system forinventory.DateOct. 1Oct. 9Oct. 11.Oct. 17Oct. 22Oct. 25Oct. 29DescriptionBeginning inventoryPurchaseSalePurchaseSalePurch

Business

Accounting

You have the following information for Cullumber Inc. for the month ended October 31, 2025. Cullumber uses a periodic system for inventory. Date Oct. 1 Oct. 9 Oct. 11. Oct. 17 Oct. 22 Oct. 25 Oct. 29 Description Beginning inventory Purchase Sale Purchase Sale Purchase Sale Units Unit Cost or Selling Price $26 28 45 65 130 100 100 65 75 110 29 50 31 50

You have the following information for Cullumber Inc. for the month ended October 31, 2025. Cullumber uses a periodic system for inventory. Date Oct. 1 Oct. 9 Oct. 11. Oct. 17 Oct. 22 Oct. 25 Oct. 29 Description Beginning inventory Purchase Sale Purchase Sale Purchase Sale Units Unit Cost or Selling Price $26 28 45 65 130 100 100 65 75 110 29 50 31 50

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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HOW DO I CACULATE ENDING INVENTORY , COST OF GOODS SOLD, GROSS PROFIT ?
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