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  3. the stilton company has the following inventory an

The Stilton Company has the following inventory and credit purchases during the fiscal year ended...

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Accounting

The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31,2017.
Beginning 514 units @ $87/unit
Feb. 10260 units @ $84/unit
Aug. 21140 units @ $97/unit
Stilton Company has two credit sales during the period. The units have a selling price of $147 per unit.
Sales
Mar. 15340 units
Sept. 10245 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.)
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: 176 units from beginning inventory, and
164 units from the February 10 purchase
Sept. 10: 171 units from beginning inventory, and
22 units from the February 10 purchase, and
52 units from the August 21 purchase

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