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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

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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 70 ?units @ $50.40 ?per unit
March 5 ?Purchase 210 ?units @ $55.40 ?per unit
March 9 ?Sales 230 ?units @ $85.40 ?per unit
March 18 ?Purchase 70 ?units @ $60.40 ?per unit
March 25 ?Purchase 120 ?units @ $62.40 ?per unit
March 29 ?Sales 100 ?units @ $95.40 ?per unit
? Totals 470 ?units 330 ?units
3. ?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 50 ?units from beginning inventory, 180 ?units from the March 5 ?purchase, 30 ?units from the March 18 ?purchase, and 70 ?units from the March 25 ?purchase.
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