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Problem 6-2B Alternative cost flows-perpetual Lo2 eXcel CHECK FIGURES: 1. Ending inventory: a. $35,345.00; b. $34,760.75; 2. Ending inventory = $35,020.00 The Obama Company has the following inventory purchases during the fiscal year ended December 31, 2020 619 units a Beginning Feb. 13... Aug. 5. $78/unit=48282 25125 335 units @D $75/unit $88/unit 215 units @ 18920 Obama Company has two sales during the period. The units have a selling price of $138 per unit. *** Feb. 15 Aug. 10 415 units 320 units Obama Company uses a perpetual inventory system. Required 1. Calculate the dollar value of cost of goods sold and ending inventory using a. FIFO b. Moving weighted average method (round the average cost per unit to two decimal places) 456 CHAPTER 6 Inventory Costing and Valuation 2. Calculate the dollar value of cost of goods sold and ending inventory using specific identification assuming the sales were specifically identified as follows: Feb. 15: 221 194 Aug. 10: 216 37 67 units from beginning inventory units from the February 13 purchase units from beginning inventory units from the February 13 purchase units from the August 5 purchase 3. Using information from your answers in Parts 1 and 2, journalize the credit sale on February 15, and the credit purchase on August 5 for each of: a. FIFO b. Moving weighted average c. Specific identification

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