Chec Requirea information [The following information applies to the questions displayed below) Warnerwoods Company uses a periodic 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 180 units $7e per unit Mar. 5 Purchase 480 units@ $75 per unit Mar. 9 Sales see units @ $105 per unit Mar. 18 Purchase 280 units @ $88 per unit Mar. 25 Purchase 360 units @ $82 per unit Mar. 29 Sales 320 units @ $115 per unit Totals 1,300 units 820 units For specific identification, the March 9 sale consisted of 90 units from beginning inventory and 410 units from the March 5 purchase; the March 29 sale consisted of 120 units from the March 18 purchase and 200 units from the March 25 purchase ompute the cost assigned to ending inventory using (a) FIFO. (6) LIFO, (c) weighted average, and (d) specific identification.( average cost per unit to 2 decimal places.) 3. Compute the cost assigned to ending Inventory using (a) FIFO. (b) LIFO. (c) welghted average and (d) specific identification (Round your average cost per unit to 2 decimal places.) a) Periodic FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Cost per # of units Goods unit Available +for Sale 180 $ 70.00 $ 12,600 # of units Cost per sold unit Cost Goods Sold Cost per #of units in ending inventory unit Ending Inventory 180 $ 70.00 $ 12,600 $ 0.00 $ 0 36,000 Beginning inventory Purchases: March 5 March 18 March 25 Total 480 $ 75.00 $ 0.00 0 480 $ 75.00 280 $ 80.00 360 $ 82.00 1,300 0 0 36,000 22,400 29,520 $ 100,520 $ $ $ 0.00 0.00 0.00 0 $ 48,600 660 0 b) Periodic LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods #of units unit Available for Sale Cost per Cost per #of units sold Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory unit b) Periodic LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of # of units Cost per Goods unit Available for Sale 180 $ 70.00 $ 12,600 #of units sold Cost per Cost of Goods Sold unit # of units in ending inventory Cost per Ending Inventory unit 180 $ 70.00 S 12,600 s 0 Beginning inventory Purchases: March 5 March 18 March 25 Total 0 480 $ 75.00 280 $80.00 360 $ 82.00 1,300 36,000 22,400 29,520 $100,520 0 0 180 $ 12,600 0 c) Average Cost Cost of Goods Sold Cost of Goods Available for Sale Cost of Average # of units Goods Cost per unit Available for Sale 180 $ 12,600 # of units sold Average Cost per Unit Cost of Goods Sold Ending Inventory # of units Average Ending in ending Cost per inventory unit Inventory Beginning inventory 4 Required information c) Average Cost Cost of Goods Sold Average Cost of Goods Available for Sale Cost of Average Goods # of units Cost per Available unit for Sale 180 $ 12,600 # of units sold Ending Inventory # of units Average in ending Cost per Ending Inventory inventory unit Cost of Goods Sold Cost per Unit Beginning inventory Purchases: March 5 March 18 March 25 Total 480 280 360 1,300 36,000 22,400 29,520 $ 100,520 $ 0 S d) Specific Identification Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of #of units Cost per Goods unit Available for Sale 180 $ 70.00 $ 12,600 Cost per # of units sold Cost of Goods Sold Cost per unit # of units in ending inventory unit Ending Inventory Beginning inventory 180 $ 70.00 $ 12,600 $ 70.00 $ 0 JUU UHL ver AL WILDE Mar. 29 Sales Totals 1,300 units 320 units @ $115 per unit 820 units For specific identification, the March 9 sale consisted of 90 units from beginning inventory and 410 units from March 5 purchase; the March 29 sale consisted of 120 units from the March 18 purchase and 200 units from March 25 purchase 4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost places and final answers to nearest whole dollar.) FIFO LIFO Weighted Average Specific Identification Sales Less: Cost of goods sold Gross profit $ 0 $ 0 $ 0 S 0