Question: 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. (For specific identification, units sold

3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. (For specific identification, units sold consist of 600 units from beginning inventory, 300 from the February 10 purchase, 190 from the March 13 purchase, 140 from the August 21 purchase, and 315 from the September 5 purchase.) Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Identification Compute the cost assigned to ending inventory using FIFO. Note: Round your average cost per unit to 2 decimal places. Goods Purchased Perpetual FIFO Cost of Goods Sold Date # of units Cost per # of units unit sold Cost per unit Cost of Goods Sold # of units January 11 600 at Cost per unit $40.00 Inventory Balance Inventory Balance $ 24,000.00 February 10 Total February 10 March 13 Total March 13 March 15 Total March 15 to.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmg Saved 2 Problems (Chaps 5 & 6) Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Date January 1 February 10 March 13 Activities Beginning inventory Purchase Purchase March 15 Sales August 21 September 5 September 10. Units Sold at Retail Units Acquired at Cost 600 units $40 per unit 400 units 190 unite $37 per unit $15 per unit 805 units $70 per unit Purchase Purchase 190 units 550 units $45 per unit $43 per unit Sales Totals 1,930 units 740 units $70 per unit 1,545 units Required

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