Required information Problem 6-1A 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 Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Units Acquired at Cost Units Sold at Retail 250 units @ $54.00 per unit 300 units @ $59.00 per unit 410 units @ $89.00 per unit 160 units @ $64.00 per unit 300 units $66.00 per unit 280 units @ $99.00 per unit 1,010 units 690 units Mar. 18 Purchase Mar.25 Purchase Mar.29 Sales Totals Problem 6-1A Part 3 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 140 units from beginning inventory and 270 units from the March 5 purchase; the March 29 sale consisted of 120 units from the March 18 purchase and 160 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Id Perpetual Perpetual Weighted Specific FIFO LIFO Average Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Goods Cost of Goods Sold Inventory Balance Purchased Cost Cost Cost # of # of units Cost of Goods Date Inventory per # of units per per units sold Sold Balance unit unit unit $ $ March 1 250 @ 54.00 13,500.00 March 5 = March 9 March 18 March 25 March 29 Totals Perpetual FIFO Perpetual LIFO > Perpetual Perpetual Weighted Specific FIFO LIFO Average Id Compute the cost assigned to ending inventory using LIFO. Cost of Goods Sold Inventory Balance Perpetual LIFO: Goods Purchased Cost # of Date units per unit # of units sold Cost per unit Cost of Goods Sold # of units Inventory Balance Cost per unit $ 54.00 March 1 250 @ $ 13,500.00 March 5 March 9 March 18 March 25 March 29 Totals 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 140 units from beginning inventory and 270 units from the March 5 purchase; the March 29 sale consisted of 120 units from the March 18 purchase and 160 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual Perpetual Weighted Specific FIFO LIFO Average Id Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual: Goods Purchased Cost # of Date units unit Cost of Goods Sold Cost # of units Cost of sold per Goods Sold unit per Inventory Balance Cost # of units Inventory per Balance unit $ $ 250 @ 54.00 13,500.00 March 1 March 5 Average March 9 March 18 Average March 25 March 29 Totals Complete this question by entering your answers in the tabs below. Perpetual Perpetual Weighted Specific FIFO LIFO Average Id Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted of 140 units from beginning inventory and 270 units from the March 5 purchase; the March 29 sale consisted of 120 units from the March 18 purchase and 160 units from the March 25 purchase. Show less Specific Identification: Goods Cost of Goods Sold Purchased Inventory Balance Cost Cost # of # of units Date Cost Cost of per Inventory units # of units per Goods Sold per unit Balance unit unit March 1 $ $ 250 @ 54.00 13,500.00 March 5 sold March 9 March 18 March 25 March 29 Totals