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HV The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2017. Beginning Feb. 10 Aug. 21 570

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HV The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2017. Beginning Feb. 10 Aug. 21 570 units @ $95/unit 300 units @ $92/unit 180 units @ $105/unit Stilton Company has two credit sales during the period. The units have a selling price of $155 per unit. Sales Mar. 15 Sept. 10 380 units 285 units Stilton Company uses a perpetual inventory system. Required: 1. Calculate the dollar value of cost of goods sold and ending inventory using: (Do not round intermediate calculations. Round "Average cost per unit" to 2 decimal places. Round the final answers to 2 decimal places.) Ending Inventory Cost of Goods Sold a. FIFO b. Moving weighted average 2. Calculate the dollar value of cost of goods sold and ending inventory using specific identification, assuming the sales were specifically identified as follows: Mar. 15: Sept. 10: 200 units from beginning inventory, and 180 units from the February 10 purchase 195 units from beginning inventory, and 30 units from the February 10 purchase, and 60 units from the August 21 purchase Ending Inventory Cost of Goods Sold Specific Identification a. FIFO View transaction list Journal entry worksheet Record the purchase of inventory on cred Note: Enter debits before credits. General Journal Debit Credit Date February 10 Record entry View general Journal Clear entry b. Moving weighted average (Round the final answers to nearest whole dollar.) View transaction list Journal entry worksheet

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