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

Beginning		556 units @ $93/unit
Feb. 10		290 units @ $90/unit
Aug. 21		170 units @ $103/unit

Stilton Company has two credit sales during the period. The units have a selling price of $153 per unit.

Sales
Mar.	15	370 units
Sept.	10	275 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.)

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:	194	units from beginning inventory
		176	units from the February 10 purchase
Sept.	10:	189	units from beginning inventory
		28	units from the February 10 purchase
		58	units from the August 21 purchase

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

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:	194	units from beginning inventory
		176	units from the February 10 purchase
Sept.	10:	189	units from beginning inventory
		28	units from the February 10 purchase
		58	units from the August 21 purchase

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