Perpetual Inventory - Alternative cost flows CHECK FIGURES: 1. Ending inventory; a. $12,705; b. $12,572.75; 2. Ending inventory $12,610 The Bandola Company has the following inventory purchases during the fiscal year ended December 31, 2020. Beginning 250 units @ $114/unit Feb. 22 450 380 units units @ $118/unit Jul. 10 @ $121/unit Bandola Company has two credit sales during the period. The units have a selling price of $285 per unit. Apr. 1 Dec. 11 Sales 550 units 425 units Bandola Company uses a perpetual inventory system. Required 1. Calculate the dollar value of cost of goods sold and ending inventory using (40 marks) a. FIFO b. Moving weighted average method. Round to two 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: (22 marks) Apr. 1 inventory 220 units from beginning 330 purchase Dec. 11 25 100 units from the February 22 units from beginning inventory units from the February 22 purchase 300 units from the July 10 purchase in Parts 1 3. Using information from your answers and 2, journalize the credit sale on December 11 for each of: (10 marks) a. FIFO b. Moving weighted average c. Specific identification 2. Calculate the dollar value of cost of goods sold and ending inventory using specific identification assuming the sales were specifically identified as follows: (22 marks) Apr. 1 inventory 220 units from beginning 330 purchase Dec. 11 25 100 units from the February 22 units from beginning inventory units from the February 22 purchase 300 units from the July 10 purchase