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The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2020 Beginning Feb. 1e Aug. 21 542 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. 1e Aug. 21 542 units @ $91/unit 280 units @ $88/unit 169 units $101/unit Stilton Company has two credit sales during the period. The units have a selling price of $151 per unit. Soles Mar. 15 360 units Sept 10 265 units Stilton Company uses a perpetual inventory system Required: 1. Calculate the doilor 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 Moving weighted average w 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 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 February 10 General Journal Debit Credit Record entry Clear entry View general journal

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