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	110	units	@ $51.20 per unit
March 5	Purchase	230	units	@ $56.20 per unit
March 9	Sales				270	units	@ $86.20 per unit
March 18	Purchase	90	units	@ $61.20 per unit
March 25	Purchase	160	units	@ $63.20 per unit
March 29	Sales				140	units	@ $96.20 per unit
	Totals	590	units		410	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 70 units from beginning inventory, 200 units from the March 5 purchase, 50 units from the March 18 purchase, and 90 units from the March 25 purchase.

Perpetual LIFO:

Date

Goods Purchased

Cost of Goods Sold

Inventory Balance

# of units

Cost per unit

# of units sold

Cost per unit

Cost of Goods Sold

# of units

Cost per unit

Inventory Balance

March 1

110

at

$51.20

=

$5,632.00

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

$0.00