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

The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2020. Beginning Feb. 10 Aug. 21 640 units @ $75/unit 350 units @ $72/unit 230 units @ $85/unit Stilton Company has two credit sales during the period. The units have a selling price of $135 per unit. Sales Mar. 15 430 units Sept. 10 335 units 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.) Ending Inventory Cost of Goods Sold a. FIFO b. Moving weighted average 2. Calculate the dollar value of cost of goods sold and ending inventory using specific identification, 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 Ending Inventory Cost of Goods Sold Specific Identification 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 View transaction list Journal entry worksheet Record the purchase of inventory on credit. Note: Enter debits before credits. Date General Journal Debit Credit February 10 Record entry Clear entry View general journal b. 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.) View transaction list Journal entry worksheet 1 2 3 > Record the purchase of inventory on credit. Note: Enter debits before credits. Date General Journal Debit Credit February 10 Record entry Clear entry View general journal c. Specific identification View transaction list Journal entry worksheet 1 2 3 Record the purchase of inventory on credit. Note: Enter debits before credits. Date General Journal Debit Credit February 10 Record entry Clear entry View general journal