Module 6 (Chapter 6) Ed 8 W Assignment Q 1 Part 1 & 2 V2 The Prairie Company made purchases of a particular product in the current year as follows: Jan. 1 Beginning Inventory 110 units $25.00 $ 2,750 Jun. 15 Purchased 90 units $27.00 $ 2,430 Nov. 20 Purchased 450 units $29.00 $ 13,050 @@@ = The Prairie Company made sales on the frllowing dates at a selling price of $72 Feb. 15 80 units June 22 98 units Dec. 14 234 units Total 412 units Instructions: The business uses a perpetual inventory system. 1. Use the Moving Weighted Average method to determine the costs that should be assigned to the ending inventory and to the cost of goods sold. Use the data entry form located in the Learn Assessment Dropbox. 2. Using information from your answers in Part 1, prepare the journal entries for the credit sale to Magenta Company on June 22 and the credit purchase on November 20 from Rouge Co. Use the General Journal data entry worksheet on the data entry form located in the Learn Assessment Dropbox