The Rowing Company made purchases of a particular product in the current year as follows: Jan. 1 Beginning Inventory 120 units $24.00 $ 2,880 Jun. 15 Purchased 100 units $26.00 $ 2,600 Nov. 20 Purchased 325 units @ $30.00 $ 9,750 II 11 II The Rowing Company made sales on the following dates at a selling price of $68 per unit: Feb. 15 30 units June 22 86 units Dec. 14 120 units Total 236 units Instructions: The business uses a perpetual inventory system. 1. Use Moving Weighted Average to determine the costs that should be assigned to the ending inventory and to Cost of Goods Sold. Make sure that you complete the Totals of the columns for the Units and Total Cost for each section of the worksheet. The row for totals is located at the bottom of the worksheet. Use the data entry form located in the Learn Assessment Dropbox or the Learn Content assignment section for Module 6. 2. Using information from your answers in Part 1, prepare the journal entries for the credit sale to Chickadee Company on June 22 and the credit purchase on November 20 from Wolf Co. Use the General Journal data entry worksheet on the data entry form locate in the Learn Assessment Dropbox or the Learn Content assignment section for Module 6. Weighted Average perpetual Purchases Units Date Jan 1 Unit Cost Total Cost Cost of Goods Sold Unit Cost Total Cost Units Merchandise Inventory Units Unit Cost Total Cost 5 Feb. 15 6 7 18 Jun 15 19 20 21 Jun. 22 22 23 24 Nov. 20 25 26 27 Dec. 14 28 29 Totals 30 31 32 Cost of goods available for sale Cost of goods sold + Ending inventory 34 35 Deduct General Journal Account Titles Date Debit Credit 7 8 9 0 21 2 23 24 25 26 27 28 29 30 31 32 33 Deduct 35 36 37 38