Problem 5-1A (Algo) Perpetual: Alternative cost flows LO P1

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Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.

Date	Activities	Units Acquired at Cost			Units Sold at Retail
March 1	Beginning inventory	200	units	@ $53.00 per unit
March 5	Purchase	275	units	@ $58.00 per unit
March 9	Sales				360	units	@ $88.00 per unit
March 18	Purchase	135	units	@ $63.00 per unit
March 25	Purchase	250	units	@ $65.00 per unit
March 29	Sales				230	units	@ $98.00 per unit
	Totals	860	units		590	units

Problem 5-1A (Algo) Part 3

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 115 units from beginning inventory, 245 units from the March 5 purchase, 95 units from the March 18 purchase, and 135 units from the March 25 purchase.