3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 45 units from beginning inventory and 175 units from the March 5 purchase; the March 29 sale consisted of 25 units from the March 18 purchase and 65 units from the March 25 purchase.

Perpetual FIFO: Cost of Goods Sold Goods Purchased # of Cost per units unit # of units sold Cost per cost of Goods Sold unit Date March 1 Inventory Balance Cost per Inventory # of units unit Balance 60 $ 50.20 = $ 3,012.00 March 5 March 9 March 18 March 25 March 29 Perpetual LIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold Cost per Cost of Goods Sold unit # of units sold Date Inventory Balance Cost per Inventory # of units unit Balance 60 @ $ 50.20 3,012.00 March 1 March 5 March 9 March 18 March 25 March 29 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual: Goods Purchased # of Date units unit March 1 Cost per Cost of Goods Sold # of units sold unit Cost of Goods Sold Cost per Inventory Balance Cost per # of units unit Inventory Balance 60 $ 50.20 = $ 3,012.00 March 5 Average March 9 March 18 Average March 25 March 29 Totals $ 0.00 Perpetual LIFO Specific id Perpetual FIFO Perpetual LIFO Average Specific Id Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted of 45 units from beginning inventory and 175 units from the March 5 purchase; the March 29 sale consisted of 25 units from the March 18 purchase and 65 units from the March 25 purchase. Inventory Balance Specific Identification: Goods Purchased # of Cost per Date units unit March 1 Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold # of units Cost per Inventory Balance unit $ 50.20 = 60 @ $ 3,012.00 March 5 March 9 March 18 March 25 Perpetual FIFO: Cost of Goods Sold Goods Purchased # of Cost per units unit # of units sold Cost per cost of Goods Sold unit Date March 1 Inventory Balance Cost per Inventory # of units unit Balance 60 $ 50.20 = $ 3,012.00 March 5 March 9 March 18 March 25 March 29 Perpetual LIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold Cost per Cost of Goods Sold unit # of units sold Date Inventory Balance Cost per Inventory # of units unit Balance 60 @ $ 50.20 3,012.00 March 1 March 5 March 9 March 18 March 25 March 29 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual: Goods Purchased # of Date units unit March 1 Cost per Cost of Goods Sold # of units sold unit Cost of Goods Sold Cost per Inventory Balance Cost per # of units unit Inventory Balance 60 $ 50.20 = $ 3,012.00 March 5 Average March 9 March 18 Average March 25 March 29 Totals $ 0.00 Perpetual LIFO Specific id Perpetual FIFO Perpetual LIFO Average Specific Id Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted of 45 units from beginning inventory and 175 units from the March 5 purchase; the March 29 sale consisted of 25 units from the March 18 purchase and 65 units from the March 25 purchase. Inventory Balance Specific Identification: Goods Purchased # of Cost per Date units unit March 1 Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold # of units Cost per Inventory Balance unit $ 50.20 = 60 @ $ 3,012.00 March 5 March 9 March 18 March 25