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Montour Company uses a perpetual inventory system. It entered into the following calendar-year 2013 purchases and sales transactions.
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Date
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Activities
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Units Acquired at Cost
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Units Sold at Retail
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Jan.
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1
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Beginning inventory
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600
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units
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@ $45 per unit
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Feb.
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10
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Purchase
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400
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units
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@ $42 per unit
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Mar.
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13
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Purchase
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200
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units
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@ $27 per unit
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Mar.
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15
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Sales
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800
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units
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@ $75 per unit
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Aug.
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21
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Purchase
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100
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units
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@ $50 per unit
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Sept.
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5
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Purchase
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500
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units
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@ $46 per unit
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Sept.
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10
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Sales
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600
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units
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@ $75 per unit
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Totals
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1,800
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units
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1,400
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units
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Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification units sold consist of 600 units from beginning inventory, 300 from the February 10 purchase, 200 from the March 13 purchase, 50 from the August 21 purchase, and 250 from the September 5 purchase.(Round your average cost per unit to 2 decimal places.)