For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase.

Perptutal Inventory System Table

Date

Activities

Units Acquired at Cost

Units Sold at Retail

Mar.

1

Beginning inventory

100

units

@ $50 per unit

Mar.

5

Purchase

400

units

@ $55 per unit

Mar.

9

Sales

420

units

@ $85 per unit

Mar.

18

Purchase

120

units

@ $60 per unit

Mar.

25

Purchase

200

units

@ $62 per unit

Mar.

29

Sales

160

units

@ $95 per unit

Totals

820

units

580

units

	Cost of Goods Available for Sale
	# of units	Cost per unit	Cost of Goods Available for Sale
Beginning Inventory	100	$50.00	$5,000
Purchases:
March 5	400	55.00	22,000
March 18	120	60.00	7,200
March 25	200	62.00	12,400
Total	820		$46,600

Specific Identification:

Goods purchased

Cost of Goods Sold

Inventory Balance

Date

# of units

$0

# of units sold

$0

Cost of Goods Sold

# of units

Cost per unit

Inventory Balance

March 1

100

@

$50.00

=

$5,000.00

March 5

March 9

March 18

March 25

March 29

Totals

$0.00