Schonfeld Corporation began operations on December 1, 2019. The only inventory transaction in 2019 was the purchase of inventory on December 10, 2019, at a cost of $20 per unit. None of this inventory was sold in 2019. Relevant information for fiscal 2020 is as follows:

During 2020, the following purchases and sales were made:

The company uses the periodic inventory method.

Instructions

Determine ending inventory under (a) specific identification, (b) FIFO, and (c) weighted average cost. Round weighted average cost per unit to two decimal places.

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Ending inventory units: Dec. 31, 2019 Dec. 31, 2020, by purchase date Dec. 2, 2020 July 20, 2020 100 100 30 130 Sales Purchases 300 units at 200 Apr. 10 Aug. 20 Nov. 18 Mar. 15 July 20 300 units at $25 Sept. 4 200 units at $28 300 170 Dec. 2 100 units at $30 Dec. 12 200