Problem 5-1A Perpetual: Alternative cost flows LO P1 [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 Date Activities Units Acquired at Cont Units Sold at Retail 1 Beginning inventory 230 units @ $53.60 per unit 5 Purchase 290 unitse $58.60 per unit Mar. 9 Sales 390 units e $88.60 per unit Mar. 18 Purchase 150 units @ $63.60 per unit Mar. 25 Purchase 280 units e $65.60 per unit Mar. 29 Sales 260 unita e $98.60 per unit Totals 950 units 650 units Mar. Mar. Problem 5-1A Part 1 Required: 1. Compute cost of goods available for sale and the number of units available for sale. 3:42 Cost of Goods Available for Sale Cost of Goods Available # of units Unit for Sale Cost per Beginning inventory Purchases: March 5 March 18 March 25 Total Problem 5-1A Part 2 2. Compute the number of units in ending inventory. Ending inventory units Problem 5-1A Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO. (6) LIFO, (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 130 units from beginning inventory and 260 units from the March 5 purchase; the March 29 sale consisted of 110 units from the March 18 purchase and 150 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 Perpetual FIFO: Goods Purchased #of units unit Cost per Cost of Goods Sold Cost per Cost of Goods Sold unit # of units sold Inventory Balance Cost per Inventory # of units unit Balance 230 @ $53.60 = $ 12,328.00 Date March 1 March 5 18 March 9 March 18 March 25 March 29 Totals $ 0.00 Problem 5-1A Part 4 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 130 units from beginning inventory and 260 units from the March 5 purchase; the March 29 sale consisted of 110 units from the March 18 purchase and 150 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) FIFO LIFO Avg. Cost Spec.ID Gross Margin Sales Less: Cost of goods sold Gross profit