[The following information applies to the questionsdisplayed below.]
Warnerwoods Company uses a perpetual inventory system. It enteredinto the following purchases and sales transactions forMarch.
| Date | Activities | Units Acquired at Cost | Units Sold at Retail |
| Mar. | 1 | | Beginning inventory | | 150 | units | @ $52.00 per unit | | | | |
| Mar. | 5 | | Purchase | | 250 | units | @ $57.00 per unit | | | | |
| Mar. | 9 | | Sales | | | | | | 310 | units | @ $87.00 per unit |
| Mar. | 18 | | Purchase | | 110 | units | @ $62.00 per unit | | | | |
| Mar. | 25 | | Purchase | | 200 | units | @ $64.00 per unit | | | | |
| Mar. | 29 | | Sales | | | | | | 180 | units | @ $97.00 per unit |
| | | | Totals | | 710 | units | | | 490 | units | |
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3. Compute the cost assigned to endinginventory using (a) FIFO, (b) LIFO, (c)weighted average, and (d) specific identification. Forspecific identification, the March 9 sale consisted of 90 unitsfrom beginning inventory and 220 units from the March 5 purchase;the March 29 sale consisted of 70 units from the March 18 purchaseand 110 units from the March 25 purchase.
