Required information Problem 5-2AA Perpetual: Alternative cost flows LO P3 [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 200 units @ $53.00 per unit 275 units@ $58.00 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 368 units @ $88.00 per unit 135 units@ $63.00 per unit 250 units@ $65.00 per unit 860 units 230 unitse $98.00 per unit 590 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale lite Cost per cost of Goods Available For units Unit for Sale Beginning inventory Purchases March 5 March 18 March 25 Total 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 115 units from beginning inventory and 245 units from the March 5 purchase: the March 29 sale consisted of 95 units from the March 18 purchase and 135 units from the March 25 purchase. 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 115 units from beginning inventory and 245 units from the March 5 purchase, the March 29 sale consisted of 95 units from the March 18 purchase and 135 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) Gross Margin FIFO LIFO Weighted Average Specific Identification Sales Loss Cost of goods sold Gross profit