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Anthony Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units
Anthony Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 150 units @ $52.00/unit Mar. 5 Purchase 250 units @ $57.00/unit Mar. 9 Sales 310 units @ $87.00/unit Mar. 18 Purchase 110 units @ $62.00/unit Mar. 25 Purchase 200 units @ $64.00/unit Mar. 29 Sales 180 units @ $97.00/unit Totals 710 units 490 units 1.value: 10.00 points 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 90 units from beginning inventory and 220 units from the March 5 purchase; the March 29 sale consisted of 70 units from the March 18 purchase and 110 units from the March 25 purchase. (Due to rounding, the sum of Cost of Goods Sold and Ending inventory may not equal the Cost of Good available for sales. Round your per unit costs to 3 decimal places and inventory balances to the nearest dollar amount. Omit the "$" sign in your response.) Ending Inventory (a) FIFO $ (b) LIFO $ (c) Weighted average $ (d) Specific identification $
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