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

Mar.

1

Beginning inventory

60

units

@ $50.20 per unit

Mar.

5

Purchase

205

units

@ $55.20 per unit

Mar.

9

Sales

220

units

@ $85.20 per unit

Mar.

18

Purchase

65

units

@ $60.20 per unit

Mar.

25

Purchase

110

units

@ $62.20 per unit

Mar.

29

Sales

90

units

@ $95.20 per unit

Totals

440

units

310

units

3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 45 units from beginning inventory and 175 units from the March 5 purchase; the March 29 sale consisted of 25 units from the March 18 purchase and 65 units from the March 25 purchase