[The following information applies to the questions displayed below.]

Anthony 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

Mar.

1

Beginning inventory

240

units

@ $53.80/unit

Mar.

5

Purchase

295

units

@ $58.80/unit

Mar.

9

Sales

400

units

@ $88.80/unit

Mar.

18

Purchase

155

units

@ $63.80/unit

Mar.

25

Purchase

290

units

@ $65.80/unit

Mar.

29

Sales

270

units

@ $98.80/unit

Totals

980

units

670

units

2.

Required:
1.	Compute cost of goods available for sale and the number of units available for sale. (Omit the "$" sign in your response.)

Cost of goods available for sale	$
Number of units available for sale		units

3.

2.	Compute the number of units in ending inventory.

Ending inventory

units

4.

3.

Compute the cost assigned to ending inventory using (a) FIFO,(b) weighted average cost, and (c)specific identification. For specific identification, the March 9 sale consisted of 135 units from beginning inventory and 265 units from the March 5 purchase; the March 29 sale consisted of 115 units from the March 18 purchase and 155 units from the March 25 purchase. (Due to rounding, the sum of Cost of Goods Sold and Ending inventory may not equal the Cost of Good available for sales. Round your per unit costs to 3 decimal places and inventory balances to the nearest dollar amount. Omit the "$" sign in your response.)

		Ending Inventory
(a)	FIFO	$
(b)	Weighted average cost	$
(c)	Specific identification	$

5.

4.	Compute gross profit earned by the company for each of the four costing methods. (Round your per unit costs to 3 decimal places and inventory balances and final answer to the nearest dollar amount. Omit the "$" sign in your response.)

	Gross profit
FIFO	$
Weighted average	$
Specific identification	$