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The following information is taken from the inventory records of the CNB Company for the month of September:

The following information is taken from the inventory records of the CNB Company for the month of September:
 




Beginning inventory, 9/1/20218,000units @ $10.00
Purchases:
9/76,000units @ $10.70
9/2516,000units @ $10.90
Sales:
9/106,000units
9/2910,000units
14,000 units were on hand at the end 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.
 

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