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You are given the following information for Cullumber Company for the month ended November 30, 2021:

Date		Description		Units				Unit Price
Nov. 1		Beginning inventory			61			$49
9		Purchase			110			46
15		Sale			(115)
22		Purchase			155			42
29		Sale			(170)
30		Purchase			49			41

Cullumber Company uses a perpetual inventory system. All sales and purchases are on account.

Calculate the cost of goods sold and the ending inventory using FIFO.

Cost of goods sold		$
Ending inventory		$

Question Part Score

--/8

Assume the sales price was $66 per unit for the goods sold on November 15, and $60 per unit for the sale on November 29. Prepare journal entries to record the November 22 purchase and the November 29 sale. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Nov. 22
	(To record purchase on account.)
Nov. 29
	(To record sales on account.)
Nov. 29
	(To record cost of goods sold.)

Question Part Score

--/5

Calculate gross profit for November.

Gross profit

$

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