Prepare the journal entries that should be recorded for the three sales. Pendulum Inc. uses moving average costing. Its 20X8 ending inventory is 900 units that have an average cost of $12.20 each. Transactions during 20x9 are: February 23, 20X9 March 1, 20X9 May 15, 20X9 June 23, 20X9 November 21, 20X9 December 24, 20X9 Date January 1 February 2 March 3 Purchases May 12 June 22 1.200 Sept 13 November 24 $13 300 $14 500 @ $11 600 @ $35 a. Prepare the journal entries that should be recorded for the three sales. b. What does Pendulum report as ending inventory on its balance sheet? On January 1, MacFarland Inc., which sells clocks, had units on hand that cost $14 each. It's 20X9 transactions are as follows: Purchases 60 units @ $15 each Sales 90 units@ $17 each 1.500 @ $22 75 units@ $18 400 @ $25 Sales 70 units@ $25 each 55 units@ $29 each 60 units@ $28 each What is MacFarland's ending inventory and COGS under: a. the periodic method and weighted average costing? b. the perpetual method and moving average costing? Units on hand 40