Question 2[14 points) The Northstar Corp. company has the following purchases and sales during the year ended December 31, 2014 Inventory and Purchases Sales Beginning: 300 units @ $24/unit August 15: 100 units February 18: 200 units @ $26/unit October 13: 300 units September 2: 100 units @ $27/unit The units have a selling price of $35.00 per unit. a) Given that Northstar Corp. employs a perpetual inventory system, calculate the cost of goods available for sale and the number of units available for sale, as well as the units remaining in ending inventory. Cost of goods available for sale: Units available for sale: Units remaining in ending inventory: b) Please fill in the table by calculating the dollar value of cost of goods sold and ending inventory, as well as the gross profit earned by Northstar Corp. using the weighted average system. Calculate weighted average cost per unit of merchandise inventory to the nearest cent. Weighted Average Cost of Goods Sold Ending Inventory Gross Profit c) Prepare journal entries to record the following (assuming all sales and purchases are for cash): (a) The purchase on September 2, (b) The sale on October 13. Enter the transaction letter as the description when preparing a journal entry. When a transaction requires two separate journal entries, use the same letter for both descriptions. Dates must be entered in the format dd/mmm (ie. 15/Jan). General Journal Account/Explanation F Debit Credit Page GJ8 Date + 1 Activate Windows Go to Settings to date Windows