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Problem 6-2B Alternative cost flows-perpetual LO2 excel CHECK FIGURES: 1. Ending inventory: a. $56,625.00:b. $55,309.25; 2. Ending inventory = $54,025.00 The Obama Company has the following inventory purchases during the fiscal year ended December 31 2017. @ Beginning............ Feb. 13 ........ Aug. 5........... 600 units 200 units 345 units $105/unit $109/unit $112/unit @ Obama Company has two sales during the period. The units have a selling price of $165 per unit. Sales Feb. 15 ............ Aug. 10 ... 300 units 335 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) 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: 175 units from beginning inventory 125 units from the February 13 purchase Aug. 10: 15 units from beginning inventory 320 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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