PLEASE EXPLAIN WHY YOU DID WHAT YOU DID. EXPLAIN STEP BY STEP.

Inventory Costing Methods-Perpetual Method Spangler Company is a retailer that uses the perpetual inventory system.

March	1	Beginning inventory	100	units of Product M @	$1,690	total cost
	6	Purchased	200	units of Product M @	$4,600	total cost
	10	Purchased	150	units of Product M @	$4,000	total cost
	15	Sold	180	units of Product M

Calculate the inventory cost of item M on March 15 (after the sale) using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods.

Do not round until your final answers. Round your final answers to the nearest dollar.

A. First-in, first-out Ending Inventory $ 1,152,000 x B. Last-in, first-out Ending Inventory $ 951,000 x C. Weighted-average Ending Inventory $ 6,174