Preview File tait A L MON NOV 2 Osama Muazzen view window Screen Shot 2020-11-02 at 9.51.31 PM Screen Shot 2020-11-02 at 9.51.44 PM Q Search Q Search 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 of Key webloc The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2020. View transaction list X X Beginning Feb. 10 Aug. 21 598 units $81/unit 320 units $78/unit 200 units e $91/unit 1 Record the purchase of inventory on credit. > 2 Record a credit sale. inect Stilton Company has two credit sales during the period. The units have a selling price of $141 per unit. 3 Record the sale of merchandise Sales Mar. 15 400 units Sept. 10 305 unita Credit ant 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.) Note :- Journal entry has been entered Record entry Clear entry View general journal C Ending Inventory Cost of Goods Sold Screen Shot 2020-11-02 at 9.51.50 PM Q Search . a. FIFO b. Moving weighted average M 5. 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.) Screen Shot 2020-11-0 View transaction list C X 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: 1 Record the purchase of inventory on credit. View transaction list 2 Record a credit sale. 3 Record the sale of merchandise. Mar. 15. 212 units from beginning inventory 188 units from the February 10 purchase Sept. 10. 207 units from beginning inventory 34 units from the February 10 purchase 64 units from the August 21 purchase 1 1 Record the purchase of inventory on credit. 2 Record a credit sale. Ending Inventory Cost of Goods Sold MNMN 3 Record the sale of merchandise. Specific Identification Note :- fournal entry has been entered