Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.

DateActivitiesUnits Acquired at CostUnits Sold at RetailMar.1Beginning inventory70units@ $50.40 per unitMar.5Purchase210units@ $55.40 per unitMar.9Sales230units@ $85.40 per unitMar.18Purchase70units@ $60.40 per unitMar.25Purchase120units@ $62.40 per unitMar.29Sales100units@ $95.40 per unitTotals470units330units

Problem 5-1A Part 3

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 50 units from beginning inventory and 180 units from the March 5 purchase; the March 29 sale consisted of 30 units from the March 18 purchase and 70 units from the March 25 purchase.