Alternative Inventory Methods Frate Company was formed on December 1, 2018, and uses the periodic inventory system. The following information is available Units Unit Cost January 1, 2019 (beginning inventory) 1,300 $11.00 Purchases: January 6, 2019 January 25, 2019 February 17, 2019 March 27, 2019 2,000 12.00 1,700 12.50 1,100 13.00 1,400 13.50 A physical inventory on March 31, 2019, shows 2,600 units on hand. Required: Prepare schedules to compute the ending inventory at March 31, 2019, under each of the following inventory methods. 3. Weighted average FRATE COMPANY Computation of Inventory Under Weighted Average Inventory Method March 31, 2019 Units Unit cost Total cost 1,300 $ 11.00 14,300 Beginning inventory January 6, 2019 January 25, 2019 1,700 12.50 February 17, 2019 March 27, 2019 Total Weighted average cost March 31, 2019 inventory 7,000