Esplanade Company was formed on December 1, 2014. The following information is available from Esplanade’s inventory records for Product BAP.

A physical inventory on March 31, 2015, shows 1,500 units on hand.
Instructions Prepare schedules to compute the ending inventory at March 31, 2015, under each of the following inventory methods (round to two decimal places).

(a) Specific identification.

(b) FIFO.

(c) Weighted-average.
Under (a), 400 units from the beginning inventory are on hand and 1,100 units from the January 5 purchase are on hand.

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January 1, 2015 (beginning inventory) Purchases: January 5, 2015 January 25, 2015 February 16, 2015 March 26, 2015 Units Unit Cost 600 R$ 8.00 1,100 9.00 1,300 10.00 800 11.00 600 12.00