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Ross Inc.s inventory records show the following data relative to an item sold. Date Units Unit cost May 1 Inventory 1,100 $20.50 May 3 Purchases

Ross Inc.s inventory records show the following data relative to an item sold.

Date

Units

Unit cost

May 1 Inventory

1,100

$20.50

May 3 Purchases

10,000

20.80

May 7 Sales

5,000

May 20 Purchases

8,000

21.00

May 22 Sales

8,500

May 30 Purchases

3,000

21.50

Assuming that Ross maintains a periodic inventory system with a monthly physical count, compute ending inventory on May 31 under

  1. Specific identification
  2. Weighted average cost
  3. FIFO

The actual ending units remaining at May 31 are from the following date:

May 1, 500 units

May 3, 1,800 units

May 20, 4,000 units

May 30, 2,300 units

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