7

Exercise 8-17 (Algo) Average cost method; perlodic and perpetual systems [LO8-1, 8-4] The following information is taken from the inventory records of the CNB Company for the month of September: Required: 1. Assuming that CNB uses a periodic inventory system and employs the average cost method, determine cost of goods sold for September and September's ending inventory. 2. Assuming that CNB uses a perpetual inventory system and employs the average cost method, determine cost of goods sold for September and September's ending inventory. Complote this question by ontoring your answors in the tabs belaw. Assuming that CNB uses a periodic inventory system and employs the average cost method, determine cost of goods soid for September and Sep inventory. Note: Round "Average Cost per Unit" to 2 decimal places. Assuming that CNB uses a perpetual inventory system and employs the average cost method, determine cost of goods sold for and September's ending inventory. Note: Enter inventory reductions for sales with a minus sign. Round "Average Cost per Unit" to 2 decimal places