2 13 Required information [The following information applies to the questions displayed below.] Warnerwoods 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 Totals Units Acquired at Cost 100 units @ $56.00 per unit 400 units @ $61.00 per unit Units Sold at Retail 420 units @ $91.00 per unit 120 units @ $66.00 per unit 200 units @ $68.00 per unit 820 units 160 units @ $101.00 per unit 580 units 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 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. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. art 2 of 2 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Goods Purchased Cost of Goods Sold Inventory Balance Cost per unit # of units sold Cost per unit Cost per Inventory Cost of Goods Sold # of units unit Balance 100 @ $56.00 = $ 5,600.00 # of nts Date units March 1 R 01:21:56 March 5 eBook eferences March 9 March 18 March 25 4 March 9 March 18 March 25 March 29 Totals Perpetual FIFO Weighted Average