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Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales...

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Accounting

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.
Date Activities Units Acquired at Cost Units Sold at Retail
March 1 Beginning inventory 190 units @ $52.80 per unit
March 5 Purchase 270 units @ $57.80 per unit
March 9 Sales 350 units @ $87.80 per unit
March 18 Purchase 130 units @ $62.80 per unit
March 25 Purchase 240 units @ $64.80 per unit
March 29 Sales 220 units @ $97.80 per unit
Totals 830 units 570 units
3. 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 110 units from beginning inventory and 240 units from the March 5 purchase; the March 29 sale consisted of 90 units from the March 18 purchase and 130 units from the March 25 purchase.

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