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Journal entry worksheet 3 Record the purchase of inventory on credit. Note: Enter debits before credits. b. Moving weighted average (Do not round intermediate calculations.

image text in transcribedimage text in transcribed Journal entry worksheet 3 Record the purchase of inventory on credit. Note: Enter debits before credits. 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.) Journal entry worksheet Record the purchase of inventory on credit. Note: Enter debits before credits. c. Specific identification Journal entry worksheet Record the purchase of inventory on credit. Note: Enter debits before credits The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2023. Stilton Company has two credit sales during the period. The units have a selling price of $144 per unit. 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.) 2. Calculate the dollar value of cost of goods sold and ending inventory using specific identification, assuming the sales were specifically identified as follows: 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

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