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  1. business
  2. accounting
  3. \table[[date,activities,units acquired at cost,uni

\table[[Date,Activities,Units Acquired at Cost,Units Sold at Retail],[March 1,Beginning inventory,130 units @$51.60 per unit,],[March 5,Purchase,240 units...

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Accounting

\table[[Date,Activities,Units Acquired at Cost,Units Sold at Retail],[March 1,Beginning inventory,130 units @$51.60 per unit,],[March 5,Purchase,240 units @$56.60 per unit,290 units @ $86.60 per unit],[March 9,Sales,,],[March 18,Purchase,100 units @$61.60 per unit,],[March 25,Purchase,180 units @$63.60 per unit,160 units @ $96.60 per unit],[March 29,Sales,,450 units]]
Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold include 80 units from beginning inventory, 210 unjts from the March 5 purchase, 60 units from the March 18 purchase, and 100 units from the March 25 purchase.
Complete this question by entering your answers in the tabs below.
Perpetual FIFO Perpetual LIFO
Weighted
Average
Specific Id
Compute the cost assigned to ending inventory using FIFO.
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