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

Martinez Company's ending inventory includes tile following items.
Per Unit
Product Units Cost Market
Helmets 24 $50 s 54
Bats 17 78 72
Shoes 38 95 91
Uniforms 42 36 36
Compute the lower of cost or market for ending inventory applied separately to each product

Wamerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.
Date Activities
Mar. 1 Beginning inventory
Mar. 5 Purchase
Mar. 9 Sales
Mar. 18 Purchase
Mar. 25 Purchase
Mar. 29 Sales

Units Acquired at Cost Units Sold at Retail
100 units @ $50 per unit
400 units @ $55 per unit
120 units @ $60 per unit
200 units @ $62 per unit
420 units @ $85 per unit
160 units @ $95 per unit
820 units 580 units

Required.
1. Compute cost of goods available for sale and the number of units available for sale.

2. Compute the number of units in ending inventory.

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 80 units from
beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units
from the March 18 purchase and 120 units from the March 25 purchase. (Round your average cost
per unit to 2 decimal places.)

4. Compute gross profit earned by the company for each of the four costing methods. For specific
identification, the March 9 sale consisted of 80 units from beginning inventory and 340 units from the
March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units
from the March 25 purchase. (Round average cost per unit to 2 decimal places.)