Exercise 6-3 (30 minutes). a. Specific identification. Ending inventory-90 units from March 30, 80 units from March 20, and 55 units from beginning inventory. Computations (90 x $5.00)+(80 x $6.00) + (55 x $7.00)... Ending Inventory Cost of Goods Sold $1,315. $2,820-$1,315. Exercise 6-3 (Continued). b. Weighted average cost perpetual. $1,505. Date Goods Purchased Cost of Goods Sold 3/1. 3/10- 90 @$7.00 $ 630- 3/20- 220 @$6.00 Inventory Balance 150@$7.000 60@$7.000 $1,050 =$ 420 . 60 $7.000 $1,740 220 $6.000 (avg. cost is $6.214) 3/25 3/30 90@$5.00 145 @ $6.214 $ 901 135 @$6.214- $1.531-(avg.cost is $5.729") =$ 839 135@$6.214- 90 $5.000 =$1.289 "rounded c. FIFO Perpetual. Date Goods Purchased Cost of Goods Sold Inventory Balance 3/1. 150 @$7.00 = $1,050- 3/10. 90@$7.00 $ 630- 60 $7.00- = $420- 3/20 220 @$6.00- . 60$7.00 220 @$6.00 = $1,740- 3/25 + 60 @$7.00 85 @$6.00 $ 930- 135 $6.00 = $ 810 3/30 90@$5.00- 135@$6.00 $1,560- 90 @ $5.00 = $1.260- Alternate Solution Format for FIFO Perpetual Computations FIFO (135 x $6.00)+(90 x $5.00). (90 x $7.00)+(60 x $7.00) + (85 x $6.00).. Ending Inventory $1,260- Cost of Goods Sold- $1,560-