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 75 units from beginning inventory and 205 units from the March 5 purchase; the March 29 sale consisted of 55 units from the March 18 purchase and 95 units from the March 25 purchase.

Date

Activities

Units Acquired at Cost

Units Sold at Retail

Mar.

1

Beginning inventory

120

units

@ $51.40 per unit

Mar.

5

Purchase

235

units

@ $56.40 per unit

Mar.

9

Sales

280

units

@ $86.40 per unit

Mar.

18

Purchase

95

units

@ $61.40 per unit

Mar.

25

Purchase

170

units

@ $63.40 per unit

Mar.

29

Sales

150

units

@ $96.40 per unit

Totals

620

units

430

units