The Merry Company has the following inventory and credit purchases during the fiscal year ended December 31, 2020.

Beginning		640 units @ $75/unit
Feb. 10		350 units @ $72/unit
Aug. 21		230 units @ $85/unit

Merry Company has two credit sales during the period. The units have a selling price of $135.00 per unit.

Sales
Mar.	15	430 units
Sept.	10	335 units

Merry Company uses a perpetual inventory system. 1.Calculate the cost of goods sold and ending inventory using FIFO and moving weight average.

2. Assuming the sales were specifically identified as follows:

Mar.	15:	230	units from beginning inventory
		200	units from the February 10 purchase
Sept.	10:	225	units from beginning inventory
		40	units from the February 10 purchase
		70	units from the August 21 purchase

Calculate the cost of goods sold and ending inventory using specific identification.

3. Journalize the credit purchase on February 10 and the credit sale on September 10 for each of: FIFO, weight average and specific identification.