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3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification units
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 680 units from beginning inventory, 260 from the February 10 purchase, 240 from the March 13 purchase, 90 from the August 21 purchase, and 330 from the September 5 purchase. (Round your average cost per unit to 2 decimal places.) Ending Inventory (a) FIFO (b) LIFO (c) Weighted average (d) Specific identification 4. Compute gross profit eamed by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places.) Sales Less: Cost of goods sold Gross profit FIFO LIFO Weighted Average Specific Identification
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