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	100	units	@ $51.00 per unit
March 5	Purchase	225	units	@ $56.00 per unit
March 9	Sales				260	units	@ $86.00 per unit
March 18	Purchase	85	units	@ $61.00 per unit
March 25	Purchase	150	units	@ $63.00 per unit
March 29	Sales				130	units	@ $96.00 per unit
	Totals	560	units		390	units

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 65 units from beginning inventory, 195 units from the March 5 purchase, 45 units from the March 18 purchase, and 85 units from the March 25 purchase.

Perpetual FIFO: Goods Purchased Cost of Goods Sold Date Cost per # of units Cost per unit # of units sold Cost of Goods Sold Inventory Balance # of units Inventory Balance 100 at $ 51.00 = $ 5,100.00 Cost per unit unit March 1 March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 March 25 March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 Totals Perpetual LIFO: Goods Purchased Cost of Goods Sold Date Cost per Cost per Inventory Balance Inventory # of units unit Balance # of units sold # of units Cost per unit Cost of Goods Sold unit March 1 100 at $ 51.00 = $ 5,100.00 March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 Totals Weighted Average Perpetual: Goods Purchased Cost of Goods Sold Date # of units Cost per unit # of units sold Cost per unit Cost of Goods Sold # of units Inventory Balance Cost per Inventory Balance unit $ 51.00 $ 5,100.00 March 1 100 at $ = March 5 Average March 5 March 9 March 18 Average March 18 March 25 Average March 25 March 29 Totals Specific Identification: Goods Purchased Cost of Goods Sold Inventory Balance Date Cost per # of units sold Cost per Cost of Goods Sold unit Cost per # of units March 1 = at $ 51.00 = at # of units unit 100 at $ 51.00 225 $ 56.00 85 at $ 61.00 150 at $63.00 Goods Puchased $ 5,100 12,600 5,185 $ 9,450 unit Inventory Balance $ 51.00 = $ 56.00 = March 5 at II at $ 56.00 II at = March 18 II = at $ 61.00 II at $ 61.00 = March 25 = = at $ 63.00 II = at = Totals