Reference no: EM131873580

Question:

Date Activities Units Acquired at Cost Units Sold at Retail

Mar. 1 Beginning inventory 240 units @ $53.80 per unit

Mar. 5 Purchase 295 units @ $58.80 per unit

Mar. 9 Sales 400 units @ $88.80 per unit

Mar. 18 Purchase 155 units @ $63.80 per unit

Mar. 25 Purchase 290 units @ $65.80 per unit

Mar. 29 Sales 270 units @ $98.80 per unit

Totals 980 units 670 units

Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 135 units from beginning inventory and 265 units from the March 5 purchase; the March 29 sale consisted of 115 units from the March 18 purchase and 155 units from the March 25 purchase. (Round your average cost per unit to 2 decimal places.)