Date Activities Units Acquired at Cost Units Sold at Retail March 1 Beginning inventory 180 units @$70
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Date | Activities | Units Acquired at Cost | Units Sold at Retail | ||||
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March 1 | Beginning inventory | 180 | units | @$70 per unit | |||
March 5 | Purchase | 480 | units | @$75 per unit | |||
March 9 | Sales | 500 | units | @$105 per unit | |||
March 18 | Purchase | 280 | units | @$80 per unit | |||
March 25 | Purchase | 360 | units | @$82 per unit | |||
March 29 | Sales | 320 | units | @$115 per unit | |||
Totals | 1,300 | units | 820 | units |
For specific identification, units sold include 90 units from beginning inventory, 410 units from the March 5 purchase, 120 units from the March 18 purchase, and 200 units from the March 25 purchase.
Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. (Round your "average cost per unit" to 2 decimal places.)
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