A company reported the following December purchase and sales data for its only product. The company uses a perpetual inventory system. Determine the cost assigned to ending inventory and to cost of goods sold using

(a) Specific identification,

(b) FIFO,

(c) LIFO

(d) Weighted average.

For specific identification, ending inventory consists of 10 units, where 8 are from the December 30 purchase and 2 are from the December 8 purchase.

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Date Dec. 1 Dec. 8 Dec. 9 Dec. 19 Dec. 24 Dec. 30 Totals Activities Beginning inventory Purchase. Sales..... Purchase. Sales..... Purchase Units Acquired at Cost 5 units @ $3.00= $ 15.00 10 units@ $4.50= 45.00 13 units @ $5.00= 65.00 8 units @ $5.30 = 42.40 36 units $167.40 Units Sold at Retail 8 units @ $7.00 18 units @ $8.00 26 units