Alternative Inventory Methods Frate Company was formed on December 1, 2015, and uses the periodic inventory system. The following information is available from Frate's inventory records for Product Ply: Unit Cost January 1, 2016 (beginning inventory) Units 1,100 $7.00 Purchases: January 6, 2016 January 25, 2016 February 17, 2016 March 27, 2016 1,800 8.00 1,500 8.50 900 9.00 1,200 9.50 A physical inventory on March 31, 2016 shows 2,200 units on hand. Required: For each method, enter your answers in chronological order. Prepare schedules to compute the ending inventory at March 31, 2016, under each of the following inventory methods: (For the weighted average method, round the average cost per unit to two decimal places.) 1. FIFO FRATE COMPANY Computation of Inventory for Product Ply Under FIFO Inventory Method March 27, 2016 February 17, 2016 January 25, 2016 (portion) March 31, 2016 inventory. March 31, 2016 Units Unit cost Total cost