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The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2020 Beginning Feb. 10 Aug. 21 528 units

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The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2020 Beginning Feb. 10 Aug. 21 528 units @ $89/unit 270 units @ $86/unit 158 units $99/unit Stilton Company has two credit sales during the period. The units have a selling price of $149 per unit. Sales Mar. 15358 units Sept. 10 255 units ces 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 FIFO Ending Inventory Cost of Goods Sold 2 a. FIFO b. Moving weighted average Pent eferences 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: 182 units from beginning inventory 168 units from the February 10 purchase Sept. 10: 177 units from beginning inventory 24 units from the February 1e purchase 54 units from the August 21 purchase Ending Inventory Cost of Goods Sold w 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 1814 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 ist Journal entry worksheet 2 1 3 Record the purchase of inventory on credit Note: Enter det before credits General Journal Debat Credit Date February 10 c. Specific identification View transaction list Journal entry worksheet 1 2 3 Record the purchase of inventory on credit Note: Enter detits bolore credits General Journal Debit Credit Datu February 10

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