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3. Using Information from your answers In Parts 1 and 2. journalize the credit purchase on February 10 and the credit sale on September 10 for each of: a. FIFO View transaction Mat X 1 Record the purchase of inventory on credit. 2 Record a credit sale 3 Record the sale of merchandise. Credit Note : @ = journal entry has been entered Record entry Clear entry View general journal b. Moving weighted average (Do not round intermediate calculations. Round "Average cost per unit" to 2 decimal places. Round the final answers to nearest whole dollar.) View transaction Wat X 1 Record the purchase of inventory on credit. Record a credit sale. Record the sale of merchandise. Credit Note : = journal entry has been entered Record entry Clear entry View general journalC. Specific Identification View transaction let X 1 Record the purchase of inventory on credit. 2 Record a credit sale. 3 Record the sale of merchandise. Credit Note : = journal entry has been entered Record entry Clear entry View general journalThe Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2023. Beginning 626 units @ $77/unit Feb. 10 340 units @ $74/unit Aug. 21 220 units @ $87/unit Stilton Company has two credit sales during the period. The units have a selling price of $137 per unit. Sales Mar . 15 420 units Sept. 10 325 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 FIFO 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: 224 units from beginning inventory 196 units from the February 18 purchase Sept. 10: 219 units from beginning inventory 38 units from the February 10 purchase 68 units from the August 21 purchase Ending Cost of Goods Inventory Sold Specific Identification