please explain the whole parts of these two questions

thank you.

#2

Wildhorse Company sells one product. Presented below is information for January for Wildhorse Company Jan. 1 11 Inventory Sale Purchase Sale Purchase Sale 118 units at $5 each 93 units at $8 each 165 units at $6 each 136 units at $9 each 163 units at $ each 104 units at $11 each 13 20 27 Wildhorse uses the FIFO cost flow assumption. All purchases and sales are on account. Assume Wildhorse uses a periodic system. Prepare all necessary Journal entries, including the end-of-month closing entry to record cost of goods sold. A physical count indicates that the ending inventory for January is 113 units. (If no entry is required, select "No entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Compute gross proht using the periodic system. Gross profit $ e Textbook and Media List of Accounts Assume Wildhorse uses a perpetual system. Prepare all necessary journal entries. (if no entry is required, select "No entry for the account titles and enter for the amounts Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit (To record the sale) (To record the cost of inventory) (To record the cost of inventory) (To record the sale) (To record the cost of inventory) (To record the sale) (To record the cost of inventory) (To record the cost of inventory) e Textbook and Media List of Accounts Compute gross profit using the perpetual system. Gross profit $ Presented below is information related to Blowfish radios for the Skysong Company for the month of July. Units Sold Date July 1 6 7 Units In 160 1.280 Unit Cost $4.50 4,60 Selling Price Total Total $ 720 5.888 480 480 $6.80 7:10 $3,264 3.408 10 12 15 18 Transaction Balance Purchase Sale Sale Purchase Sale Purchase Sale Purchase Sale Totals 640 4.90 3.136 320 7.20 480 2.304 5.00 2,400 22 25 640 7.20 800 4,608 4.98 3.984 30 320 7.30 3.360 $16.128 2.240 2336 $15.920 (a 1) Your answer is correct Calculate average cost per unit. (Round answer to 2 decimal places, es 2.76.) $ 48 Weighted average cost e Textbook and Media Attempts: 1 of 3 used (22) Assuming that the periodic inventory method is used, compute the inventory cost at July 31 under each of the following cost flow assumptions. (Round answers to decimal places, eg: 6,578.) (1) FIFO. (2) LIFO. (3) Weighted average (1) FIFO (2) LIFO (3) Weighted Average Ending Inventory at July 31 $ $ 5584