Question: value: 16.00 points 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) weighted average cost, and (c) specific identification. For specific identification,
value: 16.00 points 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) weighted average cost, and (c) specific identification. For specific identification, the March 9 sale consisted of 130 units from beginning inventory and 260 units from the March 5 purchase; the March 29 sale consisted of 110 units from the March 18 purchase and 150 units from the March 25 purchase. (Due to rounding, the sum of Cost of Goods Sold and Ending inventory may not equal the Cost of Good available for sales. Round your per unit costs to 3 decimal places and inventory balances to the nearest dollar amount. Omit the "$" sign in your response.) (a) FIFO (b) Weighted average cost (c) Specific identification Ending Inventory 4 10 value: 7.00 points 4. Compute gross profit earned by the company for each of the four costing methods. (Round your per unit costs to 3 decimal places and inventory balances and final answer to the nearest dollar amount. Omit the "$" sign in your response.) FIFO Weighted average Specific identification Gross profit 2022 McGraw-Hill Education. All rights reserved. 15% R
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