5-1A Perpetual: Alterative cost flows - Specific ID, FIFO, LIFO, Weighted Average Practice Warnerwoods Company uses a perpetual inventory system it entered into the following purchases and sales transactions for March (For specific identification, the March sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase, the March 20 sale consisted of 40 units from the arch 18 purchase and 120 units from the March 26 purchase.) Date Mar Activities Man 3 Mac 9 Beginning Inventory Purchase Sales Mar 18 Purchase Man 25 Purchase Mar 29 Sales Totals Units Acquired at Cost $50.00 per unit $55 00 per unt Units Sold at 100 units 400 units 420 units 105.00 per unit 120 units 200 units $60.00 per unit $62.00 per unit 820 units 150 units $95.00 per unus sec 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 3. Compute the cost assigned to ending inventory using (a) FIFO (b) LIFO (c) weighted average, and (d) specific identification (Round all amounts to cents) bute the cost assigned to ending inventory using cay to UFO weighted average and spenc identication (Round all amounts to e) 4 Compune gross profit earned by the company for Check / Enty FC14 the four costing methots in pra Income Statement Total Purchase Total Revenue = Unit Sold x Retail Price Total Cost of Goods Sold Total Profit Total Revenue - COGS Balance Sheet Total Inventory at year-end Perpetual FIFO Unit Total Amount Unit Perpetual LIFO Total Amount Weighted Average Total Unit Amount