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The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2020. 1 Beginning Feb. 10 Aug. 21 542

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The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2020. 1 Beginning Feb. 10 Aug. 21 542 units @ $91/unit 280 units @ $88/unit 160 units @ $101/unit Skipped Stilton Company has two credit sales during the period. The units have a selling price of $151 per unit. Mar 15 Sept. 10 Sales 360 units 265 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 Moving weighted average b 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: 188 units from beginning inventory 172 units from the February 10 purchase Sept. 10: 183 units from beginning inventory 26 units from the February 10 purchase 56 units from the August 21 purchase Ending Inventory Cost of Goods Sold Specific Identification

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