Required information 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. Units Sold at Retail Units Acquired at Cost 220 units @ $53.40 per unit 285 units @ $58.40 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 380 units @ $88.40 per unit 145 units @ $63.40 per unit 270 units @ $65.40 per unit 250 units @ $98.40 per unit 630 units Totals 920 units Problem 5-1A Part 2 2. Compute the number of units in ending inventory. Ending inventory 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 125 units from beginning inventory and 255 units from the March 5 purchase; the March 29 sale consisted of 105 units from the March 18 purchase and 145 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 # of Cost per| # of units units unit sold Cost of Goods Sold Cost per Cost of Goods Sold unit Date Inventory Balance # of units funite Cost per Inventory unit Balance 220 @ $ 53.40| = | $ 11,748.00 Ral March 1 March 5 March 9 March 18 March 25 March 29 Totals C Perpetual FIFO Perpetual LIFO > Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Cost of Goods Sold Weighted Average Perpetual: Goods Purchased # of Cost per Date units unit March 1 # of units sold Cost per er Cost of Goods Sold te unit Inventory Balance # of units Cost per per Inventory Balance 220 @ $53.40 = | $ 11,748.00 unit March 5 Average March 9 March 18 Average March 25 March 29 Totals Perpetual LIFO Specific Id > Specific Identification: Goods Purchased # of Date Cost per units unit March 1 Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance # of units Cost per " unit Inventory Balance 220 @ $ 53.40 = $ 11,748.00 March 5 March 9 March 18 March 25 March 29 Goods Purchased # of Cost per units unit un Cost of Goods Sold # of units Cost per cost of per Cost of Goods Sold sold Inventory Balance # of units Cost per Inventory unit Balance 220 @ $ 53.40 = $ 11,748.00 sold Date March 1 unit March 5 March 9 March 18 March 25 March 29 Gross Margin FIFO LIFO Avg. Cost Spec. ID Sales Less: Cost of goods sold Gross profit