The following information is taken from the inventory records of the CNB Company:
![1948_254-B-A-V-I (708).png](https://secure.tutorsglobe.com/CMSImages/1948_254-B-A-V-I (708).png)
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. Repeat requirement 1 assuming that the company uses a perpetual inventory system.