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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. 21 556 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. 21 556 units @ $93/unit 290 units @ $90/unit 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.) FIFO b. Moving weighted average Ending Inventory $ 93,600.00 $ 35,199.85 Cost of Goods Sold $ 59,718.00 $ 60,118.15 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 Ending Inventory Cost of Goods Sold Specific Identification

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