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

250

units

@ $54.00 per unit

Mar.

5

Purchase

300

units

@ $59.00 per unit

Mar.

9

Sales

410

units

@ $89.00 per unit

Mar.

18

Purchase

160

units

@ $64.00 per unit

Mar.

25

Purchase

300

units

@ $66.00 per unit

Mar.

29

Sales

280

units

@ $99.00 per unit

Totals

1,010

units

690

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 140 units from beginning inventory and 270 units from the March 5 purchase; the March 29 sale consisted of 120 units from the March 18 purchase and 160 units from the March 25 purchase.