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Question:DateActivitiesUnits Acquired at CostUnits Sold at Retail
Mar.1Beginning [email protected] $53.80 per unit
[email protected] $58.80 per unit
[email protected] $88.80 per unit
[email protected] $63.80 per unit
Mar.25Purchase290un[email protected] $65.80 per unit
[email protected] $98.80 per unit
Totals980units670units
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.)
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