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! 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 Units Acquired at Cost 210 units @ $53.20 per unit 280 units @ $58.20 per unit 370 units @ $88.20 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 140 units @ $63.20 per unit 260 units @ $65.20 per unit 240 units @ $98.20 per unit 610 units 890 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 120 units from beginning inventory and 250 units from the March 5 purchase; the March 29 sale consisted of 100 units from the March 18 purchase and 140 units from the March 25 purchase. Perpetual FIFO: Cost of Goods Sold Inventory Balance Goods Purchased # of Cost per units unit Cost per Cost per Date # of units sold Cost of Goods Sold # of units unit unit Inventory Balance $ 11,172.00 March 1 210 @ $ 53.20 = March 5 280 @ $ 58.20 $ 11,172.00 210 @ @ $ 53.20 = $ 58.20 $ 11,172.00 March 9 210 @ $ 11,172.00 $ 53.20 $ 58.20 $ 53.20 $ 58.20 @ = 0.00 11,172.00 $ March 18 140 @ $ 63.20 @ $ 53.20 $ 58.20 @ $ 63.20 March 25 260 @ $ 65.20 $ 53.20 $ 58.20 $63.20 $ 65.20 @ @ March 29 Totals $ 11,172.00 Perpetual LIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold Cost per Cost of Goods Sold unit # of units sold Date Inventory Balance Cost per Inventory # of units unit Balance 210 @ $ 53.20 $11.172.00 March 1 March 5 March 9 March 18 March 25 March 29 Totals $ 0.00 Weighted Average Perpetual: Goods Purchased # of Cost per Date units unit Cost of Goods Sold Inventory Balance # of units sold Cost per unit Cost of Goods Sold # of units Cost per unit Inventory Balance March 1 210 $ 53.20 = $ 11,172.00 March 5 Average March 9 March 18 Average March 25 March 29 Totals $ 0.00 Specific Identification: Goods Purchased # of Cost per Date units unit March 1 # of units sold Cost of Goods Sold Cost per Cost of Goods unit Sold Inventory Balance # of units Cost per Inventory Balance unit 210 @ $ 53.20 $ 11,172.00 March 5 March 9 March 18 March 25 March 29 Totals $ 0.00