Mark Company uses a perpetual inventory system. It entered the following calendar-year 2013 purchases and sales transactions. (For specific identification, the May 9 sale consisted of 80 units from beginning inventory and 100 units from the May 6 purchase; the May 30 sale consisted of 200 units from the May 6 purchase and 100 units from the May 25 purchase.)
May 1:Beginning inventory . . . . 150 units @ $300.00 per unit
May 6: Purchase . . . . . . . . . . . . . .350 units @ $350.00 per unit
May 9: Sales . . . . . . . . . . . . . . . . . . . . 180 units @ $1,200.00 per unit
May 17: Purchase . . . . . . . . . . . . . .80 units @ $450.00 per unit
May 25: Purchase . . . . . . . . . . . . . .100 units @ $458.00 per unit
May 30: Sales . . . . . . . . . . . . . . . . . . . . 300 units @ $1,400.00 per unit
Total . . . . . . . . . . . . . . . . . 680 units 480 units
Required
1. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification.