Please show work and explain how you got each number from.

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 March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals 270 units $86.20 per unit Units Acquired at Cost 110 units @ $51.20 per unit 230 units & $56.20 per unit 90 units & $61.20 per unit 160 units $63.20 per unit 590 units 140 units $96.20 per unit 410 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale # of units Cost per Cost of Goods Unit Available for Sale 110 $ 51.20 IS 5,632 Beginning inventory Purchases: March 5 March 18 230 56.20 12,926 90 61.20 63.20 160 March 25 Total 5,508 10,112 34,178 590 2. Compute the number of units in ending inventory. Ending inventory 180 units 3. Compute the cost assigned to ending inventory using (aj FIFO. (6) LIFO. (weighted average, and (c) specific identification. For specific identification, units sold include 70 units from beginning inventory, 200 units from the March 5 purchase, 50 units from the March 18 purchase, and 90 units from the March 25 purchase. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Cost of Goods Sold Cost Cost of Goods per Sold unit Goods Purchased Cost # of units per Date # of units sold unit March 1 230 at 56.20 March 5 Total March 5 Inventory Balance Cost # of units Inventory per Balance unit $ 110 at 51.20 $ 5,632.00 $ 110 at 51.20 $ 5,632.00 $ 230 at 56.20 12.926.00 $ 18.558.00 $ 55 at 51.20 $2,816.00 $ 70 at 56.20 3,934.00 $6.750.00 $ 70 $1.20 $ 3,584.00 90 % at 5,058.00 56.20 $ at 61.20 $8.642.00 th 110 > at $ 5,632.00 March 9 | . 51 20 IS 56.20 140 % at 7,868.00 $ 13,500.00 Total March 9 900 61.20 March 18 8 Total March 18 160 at 70 at 63.20 $3,584.00 90 5,058,00 March 25 $ 51.20 $ 56.20 $ 61.20 $ 63.20 at at Total March 25 $8.642.00 s 70 at 20 $ 3,584.00 at 5120 $ 51.20 - $ 1.024.00 70 at 3,934.00 160 at = 8.992.00 March 29 at 0.00 56.20 IS 61.20 IS 63.20 3 at 56.20 IS 61.20 $ 63.20 at 0.00 at Total March 29 $ 7,518.00 $ 10.016.00 Totals $ 21,018.00 10.016.00 Perpetual Fifo Perpetual LIFO Weighted Specific Id Average Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Goods Purchased Cost of Goods Sold Date Cost Cost #of units # of units Cost of Goods per per sold unit Sold unit March 1 Inventory Balance Cost of units Inventory per unit Balance $ 110 at - $ 5,632.00 51.20 230 S 56.20 $ 5,632.00 March 5 110 at 230 at $ 51.20 $ 12.926.00 56.20 Total March 5 $ 18,558.00 230 at 51.20 $ 11,776.00 $ at 51.20 March 9 > > 40 at 56. 20 2.248.00 70 at 56.20 $ 3.934.00 Total March 9 $ 14,024,00 $ 3.934.00 90 at 70 at > 61.20 $ 3,584.00 March 18 90 at $ 51.20 $ 56.20 $ 61,20 5.058.00 no at Total March 18 $ 8,642.00 160 at 63.20 70 at > 51.20 $ 3,584.00 90 at 56.20 5,058.00 March 25 160 61.20 9.792.00 89 at 63.20 Total March 25 $ 18,434,00 140 at = $ 7.168.00 70 at $ 3,584,00 at 0.00 90 at = 5.058.00 March 29 IS 5120 S 56.20 $ 61.20 $ 63.20 s 51.20 S 56.20 $ 61.20 $ 63.20 at 0.00 20 at 1.224.00 = = at 0.00 at Total March 29 $ 7,168.00 $ 9.866.00 Totals $ 21,192.00 $ 9.866.00 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.) Welghted Average Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance Date Cost # of units # of units Cost per Cost of Goods per Cost Inventory sold unit Sold of units unit per unit Balance March 1 110 at $ $1.20 $ 5,632.00 230 at $ 17.408.00 March 5 56.20 340 % at $ 51.20 at $ 56.20 340 at $ 17.408.00 Average March 5 March 9 270 at s 51.20 $13,824.00 70 at $ 51.20 = $ 3,584.00 90 at S 61.20 70 $ 3,584.00 March 18 at $ 51.20 at $ 61.20 at Average March 18 70 8 $ 3,584.00 160 at $ 320 March 25 63.20 at $ 63.20 Average March 25 320 at X * 140 8 March 29 Totals S13,824.00 Perpetual FIFO Perpetual LIFO Weighted Specific Id Average Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include 70 units from beginning inventory, 200 units from the March 5 purchase, 50 units from the March 18 purchase, and 90 units from the March 25 purchase. Specific Identification Goods Available for Sale Cost of Goods Sold Ending Inventory Cost Cost of # of Goods # of Cost Cost of sot units Cost units per units Available per Goods Ending in ending per unit sold for Sale unit Sold Inventory Inventory March 1 110 $ 51.203 5.632 $ 51.20 $ 0 $ 51.20 $ 0 March 5 120 X 56.20 6.744 56.20 0 3 56.20 0 March 18 90 61.20 5.508 61.20 0 61.20 0 March 25 160 63.20 10.112 90 63.20 5.688 63.20 0 Total 480 $ 27.996 SO $ 5,688 s 0 Date unit 0 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 70 units from beginning inventory, 200 units from the March 5 purchase, 50 units from the March 18 purchase, and 90 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) FIFO LIFO Weighted Average Specific ID Gross Margin Sales Less: Cost of goods sold Gross profit