Cullumber Company sells one product. Presented below is information for January for Cullumber Company. Nov. 1 Inventory 300 units at $ 12 each 5 Purchase 180 units at $ 13 each 10 Sale 410 units at $ 19 each 15 Purchase 410 units at $ 12.50 each 21 Sale 430 units at $ 20 each 30 Purchase 400 units at $ 12.80 each Cullumber uses the FIFO cost flow assumption. All purchases and sales are on account.
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| Nov. 1 | Inventory | 300 | units at $ 12 each | ||
| 5 | Purchase | 180 | units at $ 13 each | ||
| 10 | Sale | 410 | units at $ 19 each | ||
| 15 | Purchase | 410 | units at $ 12.50 each | ||
| 21 | Sale | 430 | units at $ 20 each | ||
| 30 | Purchase | 400 | units at $ 12.80 each |
Cullumber uses the FIFO cost flow assumption. All purchases and sales are on account.
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