can you explain how to solve this
O 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 Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 80 units @ $50.60 per unit Mar . 5 purchase 215 units @ $55.60 per unit Mar . 9 Sales 240 units @ $85. 60 per unit Mar. 18 Purchase 75 units @ $60.60 per unit Mar. 25 Purchase 130 units @ $62.60 per unit Mar. 29 Sales 110 units @ $95. 60 per unit Totals 500 units 350 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 55 units from beginning inventory and 185 units from the March 5 purchase; the March 29 sale consisted of 35 units from the March 18 purchase and 75 units from the March 25 purchase.Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance Date # of Cost # of units Cost units per unit sold per unit Cost of Goods Sold # of units Cost Inventory per unit Balance March 1 80 5 50.60 = 5 4.048.00 March 5 March 9 March 18 March 25 March 29 TotalsCompute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Goods Purchased Cost of Goods Sold Inventory Balance Cost Date # of Cost # of units Cost Inventory units per unit solo per unit Cost of Goods Sold # of units per unit Balance March 1 80 5 50.60 S 4,048.00 March 5 March 9 March 18 March 25 March 29 TotalsPerpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance Date # of Cost # of units Cost Cost of Goods units per unit sold per unit Sold # of units Cost per unit Inventory Balance March 1 30 5 50.60 = S 4,048.00 March 5 Average March 9 March 18 Average March 25 March 29 TotalsPerpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted of 55 units from beginning inventory and 185 units from the March 5 purchase; the March 29 sale consisted of 35 units from the March 18 purchase and 75 units from the March 25 purchase. Specific Identification: Goods Purchased Cost of Goods Sold Inventory Balance Date # of Cost # of units Cost Cost of Goods # of units Cost units per unit sold per unit Sold per unit Inventory Balance March 1 80 $50.60 = S 4,048.00 March 5 March 9 March 18 March 25 March 29 Totals
