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Required 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 Units Sold at Retail Units Acquired at Cost 120 units @ $55 per unit 420 units @ $60 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 440 units @ $90 per unit 160 units @ $65 per unit 240 units @ $67 per unit 200 units @ $100 per unit 640 units 940 units For specific identification, the March 9 sale consisted of 40 units from beginning inventory and 400 units from the March 5 purchase; the March 29 sale consisted of 60 units from the March 18 purchase and 140 units from the March 25 purchase. 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO. (c) weighted average, and (d) specific identification. (Round your average cost per unit to 2 decimal places.) a) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per Cost per Cost per unit # of units Cost of Goods Available for Sale Cost of Goods # of units sold unit # of units in ending inventory Ending Inventory Sold unit 0 $ 0.00 $ 0 0 $ $ 0.00 $ Beginning inventory Purchases: March 5 0 0.00 0 $ 0 $ $ 0.00 0.00 0 0.00 0 March 18 0 $ 0 $ 0.00 0 0 March 25 0 0 Total 0 b) Periodic LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Cost per Goods # of units unit Available for Sale # of units sold Cost per Cost of Goods Sold # of units in ending inventory Cost per unit unit Ending Inventory Beginning inventory Purchases: $ 0 March 5 March 18 0 0 March 25 Total 0 0 0 c) Average Cost Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Average Goods # of units Cost per Available unit for Sale # of units sold Average Cost per Unit Cost of Goods Sold # of units in ending inventory Average Cost per unit Ending Inventory Beginning inventory Purchases: March 5 March 18 March 25 Total $ 0 $ 0 d) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per Cost per Cost per # of units Cost of Goods Available for Sale # of units sold Cost of Goods Sol # of units in ending inventory Ending Inventory unit unit unit Beginning inventory $ 0 $ 0 March 18 0 March 25 0 Total 0 0 c) Average Cost Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Average Goods # of units Cost per Available unit for Sale # of units sold Average Cost per Unit Cost of Goods Sold # of units in ending inventory Average Cost per unit Ending Inventory Beginning inventory Purchases: March 5 March 18 March 25 $ 0 $ 0 Total Cost of Goods Sold Ending Inventory d) Specific Identification Cost of Goods Available for Sale Cost per Cost of Goods Cost per # of units sold Cost of Goods Available for Sale Cost per unit # of units in ending inventory Ending Inventory unit # of units unit Sold 0 $ 0 $ Beginning inventory Purchases: 0 0 0 March 5 0 0 March 18 0 0 March 25 0 Total