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 115 units from beginning inventory and 245 units from the March 5 purchase; the March 29 sale consisted of 95 units from the March 18 purchase and 135 units from the March 25 purchase.

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 Units Sold at Retail 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 200 units @ $53.00 per unit 275 units @ $58.00 per unit 135 units @ $63.00 per unit 250 units @ $65.00 per unit 360 units @ $88.00 per unit 230 units @ $98.00 per unit 590 units 860 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 115 units from beginning Inventory and 245 units from the March 5 purchase; the March 29 sale consisted of 95 units from the March 18 purchase and 135 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 FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold # of Cost # of units Cost sold per unit Cost of Goods Sold March 1 March 5 Date Inventory Balance Cost Inventory # of units per unit Balance 200 @ $ 53.00 = $ 10,600.00 units per unit March 9 March 18 March 25 March 29 Totals 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 # of Cost # of units Cost Date Cost of Goods units per unit sold per unit Sold March 1 Inventory Balance Cost Inventory # of units per unit Balance 200 $ 53.00 = $ 10,600.00 March 5 March 9 March 18 March 25 March 29 Totals Perpetual 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 # of Cost # of units Cost Cost of Goods Date Cost # of units Inventory units per unit sold per unit Sold per unit Balance March 1 200 @ $ 53.00 = $ 10,600.00 March 5 Average March 9 March 18 Average March 25 March 29 Totals Perpetual 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 115 units from beginning inventory and 245 units from the March 5 purchase; the March 29 sale consisted of 95 units from the March 18 purchase and 135 units from the March 25 purchase. Specific Identification: Goods Purchased # of Cost Date units per unit March 1 Cost of Goods Sold # of units Cost Cost of Goods sold per unit Sold Inventory Balance Cost # of units Inventory per unit Balance 200 @ S 53.00 $ 10,600.00 March 5 March 9 March 18 March 25 March 29 Totals