Date Activities Units Acquired at Cost Units Sold at Retail March 1 Beginning inventory 60 units @ $50.20 per unit March 5 Purchase 205 units @ $55.20 per unit March 9 Sales 220 units @ $85.20 per unit March 18 Purchase 65 units @ $60.20 per unit March 25 Purchase 110 units @ $62.20 per unit March 29 Sales 90 units @ $95.20 per unit Totals 440 units 310 units

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